Tech Stars : Gail India Ltd and Rain Industries Ltd Ltd By Religare Broking Ltd
GAIL (INDIA) LIMITED (GAIL)
TECHNICAL RATIONALE – Gail has formed a fresh base while holding above the support zone of 20 EMA on the weekly chart, after the failed breakout from a consolidation range. The recent price action indicates the pause to end soon. Meanwhile, traders can consider accumulating in the mentioned range.
RAIN INDUSTRIES LIMITED (RAIN)
TECHNICAL RATIONALE – Rain has witnessed a trend reversal, after spending nearly one and a half years in corrective phase. It is currently trading well above the major moving averages, further adding to the positivity. The recent pause should be utilized to initiate fresh longs in the given zone
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