PRAJIND - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 2.6

Here’s a detailed technical analysis of Praj Industries Ltd (PRAJIND) based on the data you provided and current market indicators

📊 Trend Overview

Current Trend: Reversing / Bearish

Price is trading below both 50 DMA (₹497) and 200 DMA (₹565) — a clear sign of a downtrend.

RSI at 32.9 suggests the stock is approaching oversold territory.

MACD at -4.45 confirms bearish momentum with no crossover signal yet.

📈 Chart Patterns & Indicators

Moving Averages

Price below all major DMAs → strong bearish bias

Long-term trend broken; stock has lost over 45% from its 52-week high

RSI (14): 32.9

Weak momentum, nearing oversold zone

MACD (12,26): -4.45

Bearish divergence; momentum fading

Volume Trends

Current volume (5.39 lakh) is above 1-week average (3.89 lakh), indicating active selling pressure

Bollinger Bands

Price likely near lower band, suggesting potential for a technical bounce — but confirmation needed

🔍 Momentum Signals

Short-Term Momentum: Weak

ADX (14): ~34 (indicates a strong trend — in this case, downward)

Stochastic RSI: Likely in oversold zone — watch for reversal signals

📌 Support & Resistance Zones

Level Price (₹)

Support 1 460

Support 2 441

Resistance 1 497

Resistance 2 520

Resistance 3 545

These levels are derived from pivot zones and recent price action.

🎯 Optimal Entry & Exit Zones

Entry Zone: ₹441–₹460 (if RSI dips below 30 and volume stabilizes)

Exit Zone: ₹520–₹545 (if price rebounds and MACD flattens)

🧭 Conclusion

Trend: Bearish with potential for reversal

Momentum: Weak

Volatility: High

Suggested Action: Avoid aggressive entries until RSI confirms reversal. If price holds above ₹441 and MACD improves, a bounce toward ₹520 is possible.

If you’d like, I can help you compare this with other mid-cap industrial stocks or explore how its fundamentals stack up against peers. Want to go there next?

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