Another steel stock that is trying to reverse..It was a darling of the previous bull run where several marquee investors like Madhu Kela also invested in the co.. (Disc: I used to own it as well then)
The stock is also trying to cross the 200WEMA (Similar to Bhushan Steel)...Would trade this slightly more cautiously than other leading players..
Long at CMP but...
Prakash Industries weekly chart looks attractive with low risk and high profit potential opportunity.
Although we see promoters pledged their stake, one can take a risky bet and look at this stock for long term investment.
Prakash Industries Ltd. engages in the businesses of mining, wind power, and steel and power generation. The company was founded by Basu Dev Agarwal on July 31, 1980 and is headquartered in New Delhi, India.