PRAKASH - Support and Engulfing CandlePrice consolidate since October 2023 and it formed engulfing like candle previous month. Our first target will be 200 and we can wait until it reach upper resistance line (Yellow color) after partial booking.
PRAKASH trade ideas
Prakash Industries is showing a biuld up near the all time high.A strong build up is showing in the daily chart of Prakash Industries .
The Q1 FY25 is also good.
A further rally towards its ATH with a 35% target I am expecting in this chart.
SL is below the weekly candle low or next and last support at 178 level. Beyond that my view will be invalid.
PE is lower than Industry PE and its at an attractive level now.
PRAKASH INDUSTRIES -A BREAKOUT : WILL IT SUSTAIN OR FIZZLE OUT ?Prakash Industries Ltd. is an interesting chart with following
1. Price Breakout from last 10 month's Consolidation
2. RSI on all time frames above 60
3. Narrowing Bollinger Bands with price walking on upper Bollinger Band
4. Price Rise with huge Volume bars
5. Major Support near 170- 192 zone
A stock to keep on Radar ; A breakout will it Sustain or fizzle out
CAUTION : RSI Negative Divergence visible on charts
Lets See How it Evolves.
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Prakash Industries Ltd (PRAKASH)PRAKASH has shown a strong bullish breakout from a cup and handle pattern, which suggests a potential continuation of the uptrend. The increase in volume during the breakout supports this bullish sentiment.
Key Observations
Cup and Handle Formation: The chart appears to be forming a "Cup and Handle" pattern, which can often signal a bullish continuation after a period of consolidation.
Breakout: The stock has recently broken above the handle of the cup, indicating a potential bullish breakout.
Volume: The volume has increased during the breakout, supporting the bullish momentum.
Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. The author is neither a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index, or any other financial instrument at any time
High risk, high reward with 15 yrs breakoutExcellent long term resistance breakout in Prakash.
Looks great opportunity above 220-221
This is risky as usually give huge swings (both up & down) and should be avoided by new traders.
Entry - 220/221
SL - 199 (Day closing)
Target - 249, 254, 279
Thanks
Piyush Gupta
Learn & Earn
PRAKASH - Weekly AnalysisIn the Weekly Chart of PRAKASH ,
we can see that, it is leading very Big Cup & Handle breakout.
Expected momentum is shown in chart.
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 (Breakout Soon)Entry-Above BoS level (DCB)
Risk taker enter at CMP
Levels-Given on chart
.
I am not a SEBI Registered. This analysis is purely for educational purposes only.
.
If you gain some learning from this chart, then please like this post for more reach & also do comment if you have any questions regarding this.
Prakash : The lights return?A VCP seems to be completed, BO confirms above 203 dcb, closure above 203 is needed to continue this up journey, good upmove can be seen.
Channel Break out watch outTrading in the same channel since 2008 took the support of the same channel multiple times, 200 is the watch-out level, and Breakout can give a good move. # Manage your Risk # For Learning purpose only
prakash ind Coil systemOnly for journaling not for the trading.
This post is for my personal use.
i will enter in the stock after trendline breakout or above 162.
With stop loss 146
Note : only for learning, not a trading recommendation. i am posting as a trading journal before and after breakout.
PRAKASH INDUSTRIES-Higher Highs in Monthly chartsPRAKASH INDUSTRIES-Last 4 months forming higher highs and still looks bullish.likely rounding bottom break out pattern indicates likely to test 250+ with 165-70 sl.
(For educational purpose only)
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 triangle patternPrakash Industries triangle pattern formation on daily TF as well as on weekly TF. Here I'm posting only the daily TF chart. Soon to be breakout share, keep in watchlist. Breakout above 75 and stop loss will be around 50. Trade for 1:2 Target.
PRAKASHPRAKASH INDUSTRIES
PRAKASH: 5 Years & Bullish Breakout Above 142.05 Expecting Rounding Bottom Pattern Breakout Above 137.45 CMP@117.05 Targets 135-155-175-195+++
Prakash Industries | Multiyear breakout | Breakout trading
Chart Analysis:
1) Rectangle - multiyear resistance zone breakout
2) circle - breakout consolidation breakout zone
3) Ascending triangle breakout
Prakash ind. - breakout of 4yrs cup patternPrakash ind. -
breakout of 4yrs cup pattern.
Rsi-RS- +DMI-Adx are positive..fundamental are very positive
Looking like a multi bagger...
Buy near 108 or above 125
Sl 98
Tgt 137 to 250 for atleast hold for 3-12 months.
Disclaimer - this pure a learning purpose and not advise to buy. I am holding from 98 level and add tranche at 111
Prakash Industries Stock above 104 is looking good for favourable risk reward, follow chart for proper entry and exit levels.
Bullish Pennant Breakout 📌Beautiful Setup
✅ Keep an Eye
PRAKASH
- Bullish Pennant Breakout
- Validated with Volume
- Above Key EMAs
- Bullish RSI
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.
Weekly breakout---Prakash Industriesstock has given weekly breakout, RSI is also above 60 in Weekly time frame, can give good move once it crosses 72, Add small quantity initially and then can be added on based on the move of the price.
POSTED ONLY FOR EDUCATION PURPOSE TRADE AT YOUR OWN RISK.
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
