After a 12 years long consolidation phase which began in Oct '2008, Praj Industries broke out in the month Mar '21 and rose from a low of 152 to a high of 407 before trading in a range to form an ascending channel pattern.
After a failed breakout in Sep '23, the scrip has successfully broken out of the ascending channel rising 15% in the ongoing month of Nov '23.
Target 1: 814
Target 2: 1044 (Upside Potential: 69%)
Holding Period: Max 1 year
After a failed breakout in Sep '23, the scrip has successfully broken out of the ascending channel rising 15% in the ongoing month of Nov '23.
Target 1: 814
Target 2: 1044 (Upside Potential: 69%)
Holding Period: Max 1 year
Trade active
Stock faced considerable correction...Now it's good time to make entry. Keep stop loss as per risk appetite.
Trade closed manually
Target 1 was achieved on 29 Nov'24. However, just after that the stock faced significant correction of almost 47%. It seems that the glory days of Praj Industries are over. Fundamentals have changed. It is advised to search for alternatives.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.