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Published on 19/08/2019 4:29:17 PM | Source: Choice Broking Pvt Ltd

Buy Praj Industries Ltd For Target Rs.115 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Praj Industries Ltd #Engineering Sector #Trading Report #Choice Broking

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* On an hourly scale, the stock has been sustaining above its 100 Hourly Exponential Moving Average which shows a positive move in the counter.

* On a daily scale, the stock has bounced back from of its lower band of Symmetrical Triangle formation which shows stock may accelerate in coming trading sessions.

* Additionally, the stock has bounced from its multiple support line which suggests a bounce back move in the counter.

* A daily momentum indicator RSI reading is at 43.37 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting an upside movement in the counter in few trading sessions

Recommendation

Buy Praj Industries Ltd @109.75 Stoploss 106 Target 115

 

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