RAIN INDUSTRIES BULLISH BREAKOUT | CUP AND HANDLE
Bullish breakout in RAIN INDUSTRIES
The price was trading in downtrend from past few weeks and getting rejected by the falling trendline.
On 5 June 2023, price broke out and closed above the downtrendline signalling BULLS has stepped in and downtrend may be over.
Today, on 14 June, price broke out and close above the previous Lower High resistance of 165.
This breaks the downtrend as well as breakout of Cup and Handle pattern which is a bullish pattern.
I expect price to go high in coming few days.
Entry can be initiated near 165-166.
Stop Loss- 155
Target:-
1.185
2.190
3.205
Remember to follow risk management and position sizing.
The price was trading in downtrend from past few weeks and getting rejected by the falling trendline.
On 5 June 2023, price broke out and closed above the downtrendline signalling BULLS has stepped in and downtrend may be over.
Today, on 14 June, price broke out and close above the previous Lower High resistance of 165.
This breaks the downtrend as well as breakout of Cup and Handle pattern which is a bullish pattern.
I expect price to go high in coming few days.
Entry can be initiated near 165-166.
Stop Loss- 155
Target:-
1.185
2.190
3.205
Remember to follow risk management and position sizing.