RAIN Industries not a bullish setup
Rain Industries is one stock where retails are more optimistic than the promoter but techinically their are 3 major red flags in price action
1 It has not crossed 61.8% retracement of fall from ATH to bottom 2020
2 The rise from lows of 2020 is not impulsive (god knows how some people are marking impulsive rise from 2020 bottom)
3 It has not crossed 61.8% retracement of fall from 2021 top to recent bottom yet
Why people try to force counts when we see every move is over lapping their are more than 5000 stocks traded on NSE still people are forcing their own views in name of technicals & a sudden price action in direction of their trend they count themselves as doing miracle my personal take is when its difficult to fit Elliott counts stay away from the Stock.
1 It has not crossed 61.8% retracement of fall from ATH to bottom 2020
2 The rise from lows of 2020 is not impulsive (god knows how some people are marking impulsive rise from 2020 bottom)
3 It has not crossed 61.8% retracement of fall from 2021 top to recent bottom yet
Why people try to force counts when we see every move is over lapping their are more than 5000 stocks traded on NSE still people are forcing their own views in name of technicals & a sudden price action in direction of their trend they count themselves as doing miracle my personal take is when its difficult to fit Elliott counts stay away from the Stock.
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