rk10

Prakash Industries - Potential breakout candidate

NSE:PRAKASH   PRAKASH INDUSTRIES
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HAD POSTED THIS CHART IDEA YEST BUT IT DID NOT POST SO RE-SHARING IT AGAIN

Steel stock that is trying to reverse..It was a darling of the previous bull run where several marquee investors like Madhu Kela also invested in the co.. (Disc: I used to own it as well then)

The stock is also trying to cross the 200WEMA (Similar to Bhushan Steel)...Would trade this slightly more cautiously than other leading players..
Long at CMP but with 50% of the quantity.. SL 62.
If the stock moves up i would fill my balance order above 70 and shift SL to cost because this stock tends to sometimes be volatile.
Plus market in the past has always question its promoter.

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