PRAKASH trade ideas
MOMENTUM TRADEwe can see a good support at a crucial level and today it also broke out of its short trendline suggesting its ready to move higher
PRAKASH POSITIONAL VIEW IN SHORT TERM #PRAKASH IND
BUY PRAKASH IND @ 80 ADD MORE 72
STOP LOSS - 61 CLBS
TGT - 100 120 140 160 +++++
Prakash for swing trade if 75 holds. Buy on retracementPrakash for swing trade if 75 holds. Buy on retracement
Prakash Industries - Trend ReversalAnother steel stock that is trying to reverse..It was a darling of the previous bull run where several marquee investors like Madhu Kela also invested in the co.. (Disc: I used to own it as well then)
The stock is also trying to cross the 200WEMA (Similar to Bhushan Steel)...Would trade this slightly more cautiously than other leading players..
Long at CMP but with 50% of the quantity.. SL 62.
If the stock moves up i would fill my balance order above 70 and shift SL to cost because this stock tends to sometimes be volatile.
Plus market in the past has always question its promoter.
PRAKASH INDUSTRIES--BREAKOUT PATTERNWEEKLY RSI AT60
MONTHLY RSI ABOVE 60
BIG HEALTHY GREEN WEEKLY AND DAILY CANDLE
Looks Like low risk High reward investment opportunityPrakash Industries weekly chart looks attractive with low risk and high profit potential opportunity.
Although we see promoters pledged their stake, one can take a risky bet and look at this stock for long term investment.
Prakash broke 4/1 ascending line.If it recoups and close above 165, bullishness will return possibly, else will drift down and see a level of 135
Prakash Industries: Positional View on day chartsTrading in Channel.
Downward momentum reducing gradually, which is good thing.
Demand Zone near 140-150.
Shouldn't break Min. support, if at all, max. support.
RSI Breakout can keep in watch.
A positive breakout of Upper trend line from Demand zone is VERY bullish.
Immediate support @165, closing below this level, we can see the stock heading to demand zone.
