PRAJ INDUSTRIES: Breakout from Ascending Channel( 1M Chart)

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

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