PRAKASH trade ideas
PRAKASH INDUSTRIES: Multi Year Resistance BO on Cards! ⚡See the multiple places after zooming, how the stock has this major resistance since 2007. Right now we are having intense volumes and big bullish candles. Recently, also it has bumped onto it multiple times. I expect this time it cleared and will shine.
PRAKASH INDNote:
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Keep an eye ladies and gentlemen. Cheers and Happy Trading
Ascending Triangle- PRAKASH INDUSTRIESLooking to enter after ascending triangle breakout confirmation
Bullish engulfing , have to rise in a week or twoPrakash ind shows the bullish engulfing signal that rise to the price band of 60-64 in a week or a two
PRAKASH INDUSTRIES POSITIVE BREAKOUTPRAKASH INDUSTRIES RSI CROSSED 60
BULLSHEF
NEAR RESISTANCE
READY TO BREAK RESISTANCE WITH VOLUME
Parkash give Light now turn to be positive 40 targetAS per the Chart Analysis Prakash stock looks impressive and soon touch 40+
prakash industries daily chart near support zonePrakash industries has been moving into channel since 16th dec 2019, however on 17th jan 2020, friday it has bearing movement and now near the bottom of the channel. Looking forward it will break down a month long channel or break out in upword direction after taking support at the bottomline channel. Though last two red candles showing strong bearinsh momentum.
PRAKASH IHNS strategyEntry Strategy = Pivot Line
Stop loss Strategy = Entry candle high
Exit Strategy = TSL
Trade not yet active, will put it on watchlist
Prakash IndNot really a conventional TA setup but one i really like...
With a medium term view can be got with SL at 131. For ST view can be got with a SL at 137.
Prakash Industries - Results Outlook and DemergerPrakash Inds Q1 (YoY)
Revenues up 51% at Rs 985 cr vs Rs 650 cr
Net profit up 186% at Rs 169 cr vs Rs 59 cr
EBITDA up 571% at Rs 239.7 cr vs Rs 35.7 cr
Margins at 24.3% vs 5.5%
Company says
In process of Demerging its PVC Pipes & Fittings business
Flexible Packaging plant has been successfully commissioned
Highest ever quarterly sales volume of around 2.4 lac tonnes in Q1
#PRAKASHWave (5) started
Target / Resistence 208 / 234 / 276 / 344
CCI(D) crosses 100
Reversal confirmation
TGC with strength
SL 170
Prakash Industries - Need to watch what it does at 156-157 levelPrakash Industries - Need to watch what it does at 156-157 levels.
Disclaimer: Educational purpose only to study chart. Not suggesting any trade.
Trade Setup for 26th July- PRAKASH INDUSTRIESPrakash Industries has rallied from about 100 to 139 and now has formed a pennant pattern on hourly charts. Also there is a bullish hidden RSI divergence.
Buy tomorrow on opening with a strict SL of 132 for a target of 150 and 155 in 2-3days only.
Risk to Reward Ratio- 1:4 almost
Time frame - 3days only
Potential Upside - 10%-12%
Goodluck Trading!
Trade Setup for 26th July- PRAKASH INDUSTRIESPrakash Industries has rallied from about 100 to 139 and now has formed a pennant pattern on hourly charts.Also there is a bullish hidden RSI divergence.
Buy tomorrow on opening with a strict SL of 132 for a target of 150 and 155 in 2-3days only.
Risk to Reward Ratio- 1:4 almost
Time frame - 3days only
Potential Upside - 10%-12%
Goodluck Trading
PRAKASH INDUSTRIES FORMING BULLISH CUP AND HANDLE PATTERNPrakash Industries is forming a bullish Cup and Handle pattern with neckline at 60. Wait for a breakout above 60 to enter for a target of 100
