Praj industries had been consolidating within a range for a long time and there seems to be a breakout. But we need to wait for confirmation.
Points in favor of the upside move:
W pattern formed and neckline broken.
Breakout from range with a gap-up candle (full bullish candle)
How should we move ahead?
We need to wait for few days and see the price action to...
AFTER A BRIEF UPTREND, STOCK IS GOING THROUGH A CONSOLIDATION PHASE (ORDER BUILDUP) TO REACH EVEN HIGHER PRICE.
MARKET SENTIMENT IS ALSO POSSITIVE REGARDING IT STOCKS .
ALSO A ROUNDING BOTTOM FORMATION IS SEEN WHICH ALSO SUGGESTS UPWARD MOVEMENT.
BUT ON THE OPPOSITE SIDE SUPPORT CAN BE PLACED AT 524-525 LEVEL.
