Rain Industries Ltd

NSE :RAIN   BSE :500339  Sector : Trading

About Company: Rain Industries Limited (RAIN) is a leading vertically integrated producer of carbon, cement and Advanced materials products. Headquartered in India, RAIN has manufacturing facilities in eight countries across three continents.

Daily Chart Of Rain Industries Ltd.:

Technical Outlook of Rain Industries Ltd.:

Indian markets are trading very volatile, India VIX is trading above 25 which suggests wild swings in the market can happen any side. Currently the Ukraine and Russia issue is a concern for the Global market and throughout the world we have seen volatility in the last week of trade.

If we look at the daily chart of Rain Industries, strong support is seen at 190. Currently stock is trading below 20,50,100 and 200 Days Exponential moving averages which indicates stock is not in momentum. Volumes in the stock are decent in the last couple of trading sessions.

We suggest short term traders to stay away from the stock at this point of time, but investors with a time horizon of 2 years can enter the stock at current levels around 190 with stop loss placed below 170 and targets of 270- 350 in the next couple of years. Risk and reward looks favorable at this point of time.