Is Praj Industries Poised For A Reversal Above ₹500? SEBI RA Vikash Bagaria Points To Bullish Signals
Synopsis
The analyst said a sustained move above ₹500 could open the path toward ₹580–₹620.
Praj Industries is consolidating just above a multi-year support level at ₹449, and signs of a technical reversal are emerging, according to SEBI-registered analyst Vikash Bagaria.
At the time of writing, Praj Industries shares were trading at ₹497.30, up 2.4% or ₹11.40 on the day.
The stock has held above its 200-week moving average for several months, with the ₹449 level acting as a critical “Change in Polarity” (CIP) zone since 2022.
Bagaria pointed out that the MACD has shown a bullish crossover while RSI is emerging from oversold territory.
He noted that a sustained close above ₹500 could set up a retest of the ₹580–₹620 zone, citing multiple converging bullish signals, including the RSI climbing past 50 and continued support from the 200-week moving average.
On Stocktwits, retail sentiment was ‘bullish’ amid ‘normal’ message volume.
The stock has declined 41.1% so far in 2025.
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