Prakashind
Prakash Industries, setting up from strong sector-One simple horizontal line setup
-Volume kicking in
-Strong Sector
-Iron n Steel (Metals)
-Signal candle (white dot, when more than 5% move with more than 1M volumes) suggesting big players are buying
Prakash Industries Ltd - Heading towards Double CenturyPrakash Industries Ltd is engaged in the production of ferro steel and generation of power. Growth in net profit with a decent profit margin shows its bright prospects. Stock is now at its 52week high and recovered very well from its 52week low. It's has broken it's multiyear resistance trend line. Eventhough the higher promoter pledging percentage is a great concern , they are reducing it and increasing holdings compared to last quarter. 200 levels are not so far.
Prakash Industries Stock above 104 is looking good for favourable risk reward, follow chart for proper entry and exit levels.
Prakash industries add in watchlist. Add the stock to your watch list. After the Bo of TL above the 65 levels can touch the 90 levels soon. This is for your educational purpose only.
PRAKASH IndI will buy it at ratio chart support line. Not near breakout point. As per my understanding current breakout if happens then it will be late stage breakout where higher chances of getting stopped out
prakash IndOnly take position on above 1:5 RR ratio
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Current Price :62.40
Take position at : breakout the triangle setup
Max Target 50% ROI
Stop loss according your Psychology
RRR 1:12
PRAKASH INDUSTRIES BROKEN OUTPRAKASH INDUSTRIES broken out ready to fly, will confirm its trend tomorrow. CMP-62 OUR TGT-100 SL-56 SHORT TERM & 50 LONG TERM.
DAILY SWING CALL // Wednesday 14th of July 2021 // PRAKASHDAILY SWING CALL // Wednesday 14th of July 2021 NSE:PRAKASH
// This is a swing trade call and not an intra-day trade. Please do not expect the stock to go up on the same day of posting or within a few sessions. Please follow the notes along with the posting before, during and after entering the trade //
CMP / LTP: 80.95
TARGET: 93+ (15% Around)
STOP LOSS: 73 (10% Max)
Standard Notes:
- Please follow the Stop Loss strictly and preferably on a daily closing basis.
- Recommended Profit Booking / Exit is on +12-15% & If you still want to hold the stock, trail the SL once this target is achieved.
- Duration: 15-20 Trading Days is suggested for all my trades and is an indicative period.
- If SL / Target are not triggered and you still wish to hold the trade, this can be done as long as SL is followed or trailed.
Disclosure: I may or may not have a position in this trade.
Disclaimer: All the recommendations are subject to market conditions. Please trade at your own risks.
PRAKASH INDUSTRIES IN A DOWNTREND.Self explanatory chart.
A breakdown with volumes below 73 will make room for more fall till its next support of 63.
Should short after retest of breakdown.
Prakash Industries Inverse Head and Shoulders Positional Trade: #PrakashIndustries
CMP: 87
Target: 102/103
Stop loss: 77
Prakash Industries LTD.#prakash out of the triangleSmiling face with heart-shaped eyes
Cmp 80
Trgt 85/90.Crossed fingers
Trade as per your conviction
Just for educational purpose. NSE:PRAKASH
Prakash Industries - StrategyPrakash industries is a cyclical stock with prices swinging from 10x from the lowest price to falling again by 90% from the highest price. The stock is in constant momentum after pandemic crash/correction in markets. Looking at volume and correlating it with historical data, the chances of stock staying bullish are more than the chances of it being bearish. Also, the business has started to pick pace after heavily hit by the pandemic. If we look at the sectoral picture, the steel sector rose in markets like crazy, and now is in a small consolidation. If you enter for a trade-in this script, I would advise you to go wisely. Do not put money and forget. This is a cautious trade that poses a good magnitude of risk. But here Risk: reward is still crazy good.
They say risk and reward go hand to hand.
PRAKASH INDUSTRIES-BREAKOUTA VERY IMPORTANT SHARE FOR MEDIUM-TERM PERSPECTIVE. HAS GIVEN A BREAKOUT FROM A VERY IMPORTANT RESISTANCE LEVEL. VOLUMES HAVE BEEN GOOD. RSI BULLISH. ONCE 15 MIN CANDLE CLOSES ABOVE 103 TARGETS OF 115 CAN BE SEEN EASILY. KEEP ON YOUR RADAR. STOP LOSS-93
Prakash - BullishAs highlighted in the chart, stock has BO few weeks ago and retested the BO zone. Now the momentum has been picking up in the stock. One can guy at this levels with swing as SL.
BULLISH TREND REVERSALthe stock looks bullish in short to long term(RSI-65 on weekly chart)
***Buy on Breakout above 72 for 1st Target roughly at 105 and 2nd Target at 125***
Target levels taken from previous weekly Support/Resistance
This is my personal opinion regarding this stock, do talk to your Financial Advisor before you invest
PRAKASH INDNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
