Prakash 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...
I 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
Only 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
DAILY 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...
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 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 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,...
A 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
As 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.
the 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
Note:
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...
