Buy and Hold Praj Industries for 4-5 weeks between 78-80, target- 86.0, stop loss 75.0

On Friday, Praj Industries Ltd. has closed at Rs. 78.6. The stock has started to correct from around the 95 mark and made a bottom at around 75 levels. The stock has consolidated at current levels over 8-10 trading sessions. The technical indicators indicate an up move from current level. We expect the stock to see further up side from current levels. Hence, we recommend a buy on this stock between Rs. 78 -80 with a target of Rs. 86.0 over the next 4-5 weeks. Stop loss can be put at Rs. 75.0

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