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Published on 28/09/2020 3:22:56 PM | Source: HDFC Securities Ltd

Momentum Pick - Buy Rain Industries Ltd For Target Rs. 114 - HDFC Securities

Posted in Broking Firm Views - Short Term Report| #Cement Sector #HDFC Securities #Trading Report #Rain Industries Ltd

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Momentum Pick - Buy Rain Industries Ltd For Target Rs. 114 - HDFC Securities

Observation:

After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce today.

Currently, the price is making an attempt to show upside move above the key upper resistance.

The short-term trend has turned positive. We observe a formation of positive candlestick pattern as per intraday/daily timeframe chart.

Volume has started to rise along with the up move in the stock price. The daily/intraday RSI is showing positive indication.

The overall chart pattern of PEL July Future indicates a short trading opportunity. One may look to create long trading position as per the levels mentioned above.

 

Buy Rain Industries Ltd @ 2-7 DAYS 102.80, 104.20 TGT 114 SL 100.7

 

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