Rain Stock AnalysisIt succesfully closed above it's gapped resistance. The volume here is the key. Look at the volume and also closing above 200 ema gives congruence. It is also making HH and HL on a daily time frame.
RAIN trade ideas
Short term perspectiveWhile we may see 85.50 in the next five sessions, if it remains bullish from there on or from now, month end target is 105.50.
RAIN INDUSTRIES BUY RAIN INDUSTRIES NEAR 85-88 WITH STOPLOSS 80 DAILY CLOSING BASIS FOR TARGET 108,110
Rain - LongLook for Swing Long entries. Clear BO of Daily Ascending Triangle formation. Look for pull back for any long entry.
Rain Industries - Bottoming OutAnother candidate which could be bottoming out. Have found a workaround to the SC ban on its raw material. Capex complete.
Technically stock is making higher lows and has consolidated for a long time after the steep fall. On the weekly the RSI has a triple positive divergence as well. Could soon potentially beakout of this range and once it crosses the 200EMA it could go way higher based off its current low PE.
A clear break out from triangle Buy at current price 118 , Uptrend has started in RAIN Industries after a long time and target is 147 .
Rain , consolidation going on for target 180 in couple of monthsit is not an advice for trade , for educational purpose only .
Rain IndustriesRain Industries came out of falling wedge pattern and made some handsome gains.
Counter is undergoing correction wherein price can fall to the levels mentioned.
Keep a eye .
Rain Industries - Investment stockTrend line break has happened at 88 - 93 level. For those who missed the chance to enter at that level, can wait for the break out above 115 with the stop loss of 99 for the targets 123, 129 and 135.
RAIN INDS - WAIT!!Management informed in their last concall that they are exhausting high price GPC by this quarter.
From now onwards the blended price for GPC will be appx. 150 USD per ton against CPC price of appx 270 to 280 USD per ton. Also due to this reduction in price, company will have lower working capital requirements and the cash flow will become more positive.
IS THIS THE REASON FOR GETTING SUPPORT AT 95 LEVEL?
BE CAUTIOUS FOR GOING LONG AS THE CHARTS INDICATE 50 LEVEL AS THE NEXT SUPPORT.
WAIT FOR PRICE TO STABILIZE AT 100. THEN ONE MAY ENTER FOR LONG AS THE TARGETS WILL BE 114 & 135.
Rain Industry Near Support BandTechnically Rain industry is around support band that is 85-93. One can add this after checking fundamentals.
RAIN / LONGSETUP/ ENTRY 119/ SL 115/ TGT- 128-136-145RAIN INDUSTRIES IS A GOOD LONGSETUP ENTRY CAN BE TAKEN AT 119 WITH A SL OF 115 FOR TARGETS OF 128 T2- 136 T3-145
FOR STUDY AND EDUCATIONAL PURPOSE ONLY
BearishRoughly maintaining the last support line. In case of sudden spurt in momentum, it may see a level of 191 in intermediate term. There is also a chance that it will be consolidating till November'19.
