Praj industries : Breakout after 1 year consolidation
In Praj industries we see that long term trend is uptrend.
The script was under consolidation/ accumulation for almost a year.
The consolidation was in a range/box Darvas box and the script is coming out of consolidation with high volume and its a potential candidate for a BUY.
The script was under consolidation/ accumulation for almost a year.
The consolidation was in a range/box Darvas box and the script is coming out of consolidation with high volume and its a potential candidate for a BUY.
Comment:
Target as per Darvas box/ Fibonnaci is 680+ with stop loss below 365 on weekly closing basis. One can have tigher stop loss on lower time frame and shorter targets. Happy trading :)
Trade active:
After a long consolidation in range of 300-450 and forming inverse head & shoulders in the accumulation zone the script has given a breakout on weekly charts.
Sugar sector stocks have started showing strength & Praj industries results were good and valuations now are reasonable.
One can consider this breakout for target of 650+ and we will re-evaluate the setup once the targets are achieved
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading and have a nice profitable week ahead ;)
If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)
Sugar sector stocks have started showing strength & Praj industries results were good and valuations now are reasonable.
One can consider this breakout for target of 650+ and we will re-evaluate the setup once the targets are achieved
Enjoy the move and hope you are making most of it by learning how the momentum stocks show strength :)
Happy trading and have a nice profitable week ahead ;)
If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :)
Trade active:
Hi All,
good morning! Monday morning cant be better all thanks to Praj industries :)
The script has opened gap up on weekly candle chart. This is considered as bullish and now one can trail the SL to CLOSE of last week's ie near 517 levels. Looking at the volume and chart its in strong hands but slightly overheated. Would be wise to wait for the script to cool down a bit and plan the entry for levels of 650+
***If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :) ***
good morning! Monday morning cant be better all thanks to Praj industries :)
The script has opened gap up on weekly candle chart. This is considered as bullish and now one can trail the SL to CLOSE of last week's ie near 517 levels. Looking at the volume and chart its in strong hands but slightly overheated. Would be wise to wait for the script to cool down a bit and plan the entry for levels of 650+
***If you like my analysis , then do follow me for more updates and like it so others can also benefit from this :) ***