Rain Comm. Buy for ST CMP: 204.90 Tgt: 219 & 231-Religare.

The daily candlestick chart of Rain Commodities shows a big bullish candle on extremely high volumes. It has broken above and closed above the resistance line in blue. The OBV oscillator has made a new high implying that the recent highs could be attempted. One can accumulate in small quantities in declines at Rs.198-202 with a strict stop loss below Rs.189.50 in close for a target of Rs.219 in the next 4-6 weeks and if that is sustained an optimistic medium term target of Rs.231 in the next 10-12 weeks.