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Published on 8/02/2019 4:47:51 PM | Source: Choice Broking Pvt Ltd

Buy Prakash Industries Ltd For Target Rs. 95 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Oil and Gas Sector #Prakash Industries Ltd #Trading Report #Choice Broking

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* On a daily chart, the stock has given a breakout of its previous resistance which shows further upside movement can be seen in the counter.

* Moreover, the stock has bounced back after taking a support of its upward Rising trendline which signals for a bull run in coming trading sessions.

* Furthermore, the stock has started to trade above its 21 Days Exponential Moving Average which shows a positive move in the counter.

* A daily momentum indicator RSI reading is at 50.82 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 Prakash Industries Ltd @ 88.70 Stop Loss 85.50 Target 95 

 

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