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RAIN INDUSTRIES Trend Analysis
RAIN INDUSTRIES LTD
Long
RAIN INDUSTRIES Trend Analysis
By Swastik24
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Follow
Apr 12, 2022
2
Cheer
Cheer
Apr 12, 2022
Technically highly bearish as RSI dropped below 50 level with declining volume.
Price broke out of a symmetrical triangle pattern, retested and now heading lower towards buying zone highlighted.
Buying zone lies in confluence with KEY SUPPORT level and FIB Golden Zone
Accumulate around 135-150 levels for a good positional target around its ATH 440-460 levels (220% ROI long term)
You may consider keeping stop loss @ 125 (optional)
Potential risk reward ratio 1:10
As I say always do your own research before trading or investing.
Peace!!
Beyond Technical Analysis
Chart Patterns
RAIN
rainindustries
rainindustrieslong
Trend Analysis
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