PRAJ INDUSTRIES 1:4 MOMETUM TRADE NSE:PRAJIND Broke out from flag pole pattern after 500% momentum move. Strong volumes in the uptrend show increasing strength of the stock.
One can enter entire position at C.M.P in view of a momentum trade with a tight sl.
Targets: 450/500/565+
sl: below 360
Low risk high reward trade. Positional traders could opt for deeper sl below 330 levels.
Position size accordingly. HAPPY TRADING!
PRAJIND trade ideas
prajSwaraj and Praj have now signed an agreement for expanding up to 500 KLPD capacity that is expected to be operational by the third quarter of FY 2022-23. Praj will design, engineering, supply, commission the plant, deploying its advanced sugarcane juice and Biosyrup to ethanol technology.Swaraj Green Power & Fuel will set up Asia’s largest ethanol production unit at Phaltan (Satara) in Maharashtra. The plant’s targeted capacity will be 1,100 kilolitres per day (KLPD).
In the first stage, it will have a capacity of 500 kilolitres per day KLPD and in the second, the capacity would be enhanced to 1,100 KLPD. The unit will use sugarcane juice and Biosyrup as raw materials based on technology supplied by Praj Industries. At full capacity, Swaraj will become the largest capacity plant to produce Ethanol in India and Asia.
Praj IndustriesSolid break out for Praj above trend line. But its problem doesn't stops here. Next hurdle is at 385, 399, and 407. Harmonic resistance at 396. Bechara Praj so many hurdles for him. but ones it closes above all time high sky is the limit. surely look for 2x. Its only idea sirji before investing contact your financial advisor.
PRAJ INDUSTRIES LONG (LONG TERM OPPORTUNITY)14 YEAR ROUDING BOTTOM BREAKOUT
EXTREMELY BULLISH ON MONTHLY AND WEEKLY TIMEFRAME SUGGESTED BY RSI ABOVE 60
OUTPERFORMANCE TO BROAD MARKET (CNX500)
KEY LEVEL : -------275-------------
ENTER @ CMP AND BUY ON DAILY DIPS AS LONG AS ABOVE 275
INTIAL STOP LOSS : CLOSE BELOW 270 ON DAILY BASIS (ABSOLUTE CRUCIAL : DO NOT HOLD BELOW 270)
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