Technical Analysis PRAJ Industries Limited (PRAJIND)

The stock $PRAJIND is experiencing a correction or pullback. After climbing to ₹420 it could not hold that high price and has fallen back down to the current level of ₹353.45. After hitting rock bottom the stock showed a sudden and very strong recovery. It shot straight up from the ₹300 area breaking through old resistance and reaching a recent high of around ₹420 to ₹430. This was a highly bullish positive sign. Immediate Support there is a very clear dotted horizontal line drawn on your chart at ₹322.55. This is your most important support level right now. If the stock keeps falling it is likely to bounce off this line. If the price breaks below ₹322.55 it is a negative sign and the stock might fall back to ₹300. Immediate Resistance if the stock starts going up again its biggest hurdle will be the recent high it made near ₹420. It will need a lot of buying power to break past that level. For short-term buyers the ongoing correction from ₹420 presents a potential dip-buying opportunity but entering immediately carries risk since the downward momentum is still active. The best strategy is to wait for the price to stabilize and show a clear reversal or bounce near the major horizontal support at ₹322.55. If that level holds tightly it offers a high-probability entry point to target a quick move back towards the ₹400 to ₹420 resistance zone.