Prajindustries All set for a breakout?

✅Bullish Engulfing from support levels.
✅Good Volume
✅Dry volume when pulling back.
✅Trading above Key DMAs.

❗️Positional SL is very deep(20%)- Adjust SL as per your appetite and position sizing technique.

Position sizing is very important if you are building positions.
Aggressive trader's SL after the breakout is 761 closing basis.

The view is personal. Please do your due diligence before trading. This is not a buy-sell recommendation.

We missed the ideal entry when the stock broke out of the trendline area ( 718-19 range)

-Market Cap₹ 14,798 Cr.
-Current Price₹ 803
-Stock P/E 53.2
-ROCE29.3 %
-ROE23.3 %