CHART IDEA ON PRAJ INDUSTRIES
The stock formed a FLAG and POLE pattern on the daily chart. A FLAG and POLE Pattern is a bullish pattern, and it signals the continuation of a bullish trend after a pause, and the price is about to move higher. We have seen a strong bull run in the past few trading sessions.
Strong volume in the stock also indicates a fresh bull run in the stock in days to come. We will expect a major rebound in this stock in days to come. The momentum indicator RSI too supports our bullish view in this stock.
Traders can buy around 390-395 and add more around 370 if comes. We will expect upside targets till 445 and then to 490 levels in days to come. Support and stop loss below 330, a daily close below 330 will negate our bullish view in the stock.
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