Praj Industries Wedge breakout
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Stock has broken wedge pattern on daily chart with good volume.
It is set to test major hurdle near 100.
Long near 87-89 zones with Stop-loss 75.4
📌 Wave 3 target 98-100 if crosses and closes above 100 then wave 3 will get extended then it will move up towards 127 which is 2.618. This will mean breaking major 130 level which is channel resistance.
📌 If wave 3 is not extended and ends near 98-99 then after wave 4 should retrace little 88-89.
📌 Wave 5 should end near 117
📌 Only allocate small portion of the capital and do your own study or ask your financial advisors before investing
I may or may not trade this analysis
--------------------------(((((LIKE)))))-------------------------------
Stock has broken wedge pattern on daily chart with good volume.
It is set to test major hurdle near 100.
Long near 87-89 zones with Stop-loss 75.4
📌 Wave 3 target 98-100 if crosses and closes above 100 then wave 3 will get extended then it will move up towards 127 which is 2.618. This will mean breaking major 130 level which is channel resistance.
📌 If wave 3 is not extended and ends near 98-99 then after wave 4 should retrace little 88-89.
📌 Wave 5 should end near 117
📌 Only allocate small portion of the capital and do your own study or ask your financial advisors before investing
Nota
Wave 3 target hit
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