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!
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
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...
Fundamantals are intact.Technically weak,350-410 levels has to be breached for the next decisive move either way.Personally feel a dip to 349 may occur before crossing the hurdle of 410 levels/zones for a swift move to 450/475/500
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
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
