MTF Stock Pick Buy Rain industries Ltd For Target Rs. 270 - HDFC Securities
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MTF Stock Pick Buy Rain industries Ltd For Target Rs. 270 - HDFC Securities
TECHNICAL OBSERVATIONS
The attached Daily timeframe chart of RAIN, which has fell for few sessions after a rise and consolidated and in today’s session it has given a breakout with higher volumes.
The stock has also breached above downward sloping trend line
We observe a formation of bullish pattern on daily and weekly time frame.
Momentum oscillators like RSI and MACD are giving bullish indication suggesting bullish movement for the stock for few more weeks.
The overall chart pattern of RAIN indicates long trading opportunity. One may look to create positional long as per the levels mentioned above.
Buy Rain industries ltd Up to 3 Months @ Add on dips 200 CMP 213.55 TGT 270 SL 193
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