Buy Rain Comm with a target of Rs 184:Sukhani

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Buy Rain Comm with a target of Rs 184:Sukhani

Buy Rain Commodities with a target of Rs 184 per share and stop loss at Rs 165 per share, says Technical Analyst, Sudarshan Sukhani.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about Rain Commoditie See messages about Rain Commoditie Rain Commoditie BSE | NSE 01/06/12 Are Mutual Funds betting on Rain Commoditie?

Technical Analyst, Sudarshan Sukhani is of the view that buy Rain Commodities with a target of Rs 184 per share and stop loss at Rs 165 per share.

Sukhani told CNBC-TV18, "Rain Commodities has gone up and is consolidated. Stocks that are either in a dip or in a consolidation are generally the most appropriate swing trading ideas. So Rain Commodities qualifies on both those counts. It is a dip, a consolidation and probably a next move on the upside. Assuming that this market will go through a small correction, these stocks will not outperform. However, the breakouts are just postponed by a day or two days. The traders can safely watch these stocks in any case. Buy Rain Commodities with a target of Rs 184 per share and stop loss at Rs 165."