It can be seen from the above chart that praj industries Lld- Rs.99 has just broken out of the triangle pattern. it appears that the triangle has formed over a period of 8 months( fibonacci again) and has just given a break out of the trend line. please see the volumes on break out also which appears to be very very huge suggesting that the break out may be genuine and we might see further upsides in the stock. Fundamentally the stock needs no introduction so the stock appears to be good technical buy. As ususal stop loss: below Rs.85.M.Sri Mahidar
Trend is friend.
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