RAIN INDUSTRIES - Opportunity at 195 (potential upside ~2.2x)

RAIN INDUSTRIES has strictly followed the channel (blue) for close to 13 months before breaking the same - another channel has emerged (red). #RAININD can go down to INR 195 and still remain in the red channel with an upside of 31%. If it manages to enter the blue channel again - it can go as high as INR 426.

Can consider buying once it falls another 5% from current levels.