Can be used to scalp and long/short on breakout either way after restest. SLs can be moved to nearest high or low after breakouts. Wait for shakeouts in either directions before making a decision. 10% moves in a either direction could be possible for shakeout and could last for a few weeks. This would lead to a very strong move in the opposite direction!
If the support at 157 is held for a couple of days and up move resumes, in intermediate term 210 can be seen.
Rain Industries , Slowly making some noise . if it break out of 188 range can see a rise 20-30% . A review at levels of 230 needs to be done if it breakouts of INR 188
I expect the support will be respected and the stock will touch 280 in medium term
Disclaimer.. was waiting for the bull run to cool off, what a better way than a distribution to do the damage to the price acction, now the fundamentals have made the market tensed, this is my kind of buy times, looking to accumulate in the lower 200s.. incase the broader market sentiments go lower, which is likely in the next 18 months or so, the yearly support...
Formation of a Descending Triangle and has hit support now at 300 to 306 and should move upwards with these targets TP- 363-405-480-500-600 Stop loss 290
NSE:RAIN Flag pattern formed on daily charts, breakout point.
After a ferocious move and a profit taking to 61% fib lvl, I am again looking for a long above todays high!
Rain Industries with a target of Rs 57.50 and a stop loss of Rs 53.75 as the given counter is displaying a good trend, but is seen facing a a major resistance at Rs 58