Momentum Finally rains on Rain Industries. Rain Industries is one of the biggest producer of Calcined Petroleum Coke. The company operates in 3 business verticals Carbon, Advanced material and Cement. A negative aspect of the company is decreasing ROCE. Positive aspect of the company is Zero Promoter pledge as well as FIIs and MFs increasing the stake. Entry in the stock can be taken after closing above 181. Targets will be 190 and 197. Long term target in the stock will be 206. Stop loss in the company should be maintained at a closing below 155.
RAIN trade ideas
Rain Industries !@ajitdevkar
Rain Industries !
NSE:RAIN
One Can Enter Now ! Or Wait for Retest of the Trendline (BO).
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose!
Rain Industry Long Target 1 233 Target 2 273 TF 1-4 MonthsRain Industries is in up trent & consolidation near its resistance of 200 and forming inverse head and sholder / cup with handel pattern . One can buy at these levels for near term targets of 233 and 273 in next 1-4 months
For Education perpose only
rain industriesThe company is in the business of manufacturing and selling carbon products, chemicals, and cement and has a market capitalization of INR 5,211 crores. The share price of Rain Industries is currently trading at a P/E ratio of 8.98, compared to the industry’s average of 12.11.
it has given a breakout from a downward channel on the weekly chart.
RAINNSE:RAIN
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RAIN INDUSTRIES Trend AnalysisTechnically highly bearish as RSI dropped below 50 level with declining volume.
Price broke out of a symmetrical triangle pattern, retested and now heading lower towards buying zone highlighted.
Buying zone lies in confluence with KEY SUPPORT level and FIB Golden Zone
Accumulate around 135-150 levels for a good positional target around its ATH 440-460 levels (220% ROI long term)
You may consider keeping stop loss @ 125 (optional)
Potential risk reward ratio 1:10
As I say always do your own research before trading or investing.
Peace!!