Rain Industries has managed to sustain the support zone around Rs.140 which previously was a resistance zone with good volumes by end of the week.
Immediate Resistance can be seen around the level of 190 along with a weekly trendline.
If it manages to break the same, a potential target of Rs. 255 is activated, However the price must sustain above Rs. 170 in the upcoming days. If price manages to close below 170 the setup becomes invalid.
Buying is recommended at current market price and dips till 170.
Please give a boost and comment if you find the analysis helpful and consider following for more. Any Request, suggestions or advice are warmly welcomed.
Disclaimer:I am not a SEBI Registered Analyst, and the views expressed here are solely my own and for educational purposes only. Make sure you consult your Financial advisor before investing, as I won't be responsible for any losses incurred.
Immediate Resistance can be seen around the level of 190 along with a weekly trendline.
If it manages to break the same, a potential target of Rs. 255 is activated, However the price must sustain above Rs. 170 in the upcoming days. If price manages to close below 170 the setup becomes invalid.
Buying is recommended at current market price and dips till 170.
Please give a boost and comment if you find the analysis helpful and consider following for more. Any Request, suggestions or advice are warmly welcomed.
Disclaimer:I am not a SEBI Registered Analyst, and the views expressed here are solely my own and for educational purposes only. Make sure you consult your Financial advisor before investing, as I won't be responsible for any losses incurred.