PRAJIND
PRAJINDNote:
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One Right Trade's Swing Trade Idea #194 : Long on PRAJINDThis is a public swing trade idea from "one right trade" and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
Praj Industries: Awaiting A BreakoutThis stock looks bullish in the weekly and monthly charts. A look at the daily chart indicates consolidation near a key resistance level (denoted by the red dashed line). Am waiting for a breakout above the line (backed by higher volume) before buying this one. My guess is that it is just a question of time before the stock registers a big breakout and heads north.
Lets wait and watch if the breakout does happen. There are of course a lot of other nuances that a passionate chart reader can spot. Am not getting into details. Let me have your thoughts too.