Rain Industries Ltd

Rain is into transforming by-products of oil and steel industries into high-value carbon-based materials essential to numerous manufacturing applications and end products.

RAIN HQ is in India & it has manufacturing facilities in 8 countries across 3 continents.

Fundamentals:-
Debt is more than reserves.
Current Price is less than book value.
Dividend giving stock.
Poor ROCE & ROE.
Promoters holding is adequate & No promoters pledged.

Technical:-
Bullish Order Block is marked as Green shaded horizontal area.
Resistances are marked as red horizontal lines.
Stoploss is marked as orange horizontal line.
Support is marked as green horizontal line.
Resistance Trendline is marked in white.
Price Breakout from Resistance trendline on monthly chart with Huge volume.
Price is above 200 Weekly EMA & took support on it (Yellow Line).
Breakout is supported by Huge volume (Largest monthly volume till now).

Crux:-
So Fundamentally not that great stock but a dividend giving stock.
Technically its giving breakout above 200 - 205 with Huge volume (good for swing trade).
Looks like operators Entry in it.
Long Term investors need to wait for price to retrace till Bullish Order Block.
Long Term investors keep Stoploss at 100 - below Bullish Order Block & support of 128.


Long Term Levels:-
Buy 150 - 128
Stoploss 100
Target 270 - 400

Swing & Positional:-
Buy 200 to 205
Stoploss 150
Target 270 - 400


This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. Facts or Data given above may be slightly incorrect. We are not SEBI registered.