Praj Industries Limited (PRAJIND) The Supply Wall Analysis

The

1-hour chart reveals a classic rejection at the resistance zone. After hitting a session high of 357.80, the stock faced significant selling pressure, dragging the price down to 339.85. Currently, the price is hovering just above its key short-term moving averages: the Fast EMA (10) at 337.27 and the Slow EMA (20) at 335.17. The candles show a series of long upper wicks, indicating that every attempt to rally is being met with institutional supply. Praj is in a Squeeze Zone. The immediate support is at 335, but if the Bank of Japan news triggers a broader market sell-off, we could see a slide toward the 325-330 liquidity pocket. We are not buyers here until the stock successfully closes above 360 on a daily timeframe with a surge in volume. Until then, it remains a "Sell on Rise" candidate for short-term traders.