Exit Praj Industries below Rs 79: Bose

Technical Analyst, Rajat K Bose is of the view that if Praj Industries falls below Rs 79, then you have to get out.

Bose told CNBC-TV18, "Praj Industries has actually given a good rally yesterday. It is actually coming off from a bottom but then I would like to highlight one thing either a Praj or those stocks like even a Deccan Chronicle, the way they have moved up from below, these kind of rallies we have seen in June and July of course the situation was different, they did not fall as much, at this point in time they are far lower. So you have to see whether Praj sustains above Rs 87 or not. If it manages to sustain above Rs 87, then this rally was going to continue otherwise, if you are already long, then you are looking at a level of Rs 79. If it falls below that, then you have to get out once again thinking that this rally is actually getting fizzled out."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol