On Friday, there was such a storm of bulls in the stock market that all the bears were blown away. Nifty got an additional boost due to short covering at the higher level and it closed at the level of 23907. During this period, there was a stormy rise of 557 in Nifty.
The stock market took pauses from time to time and approached the upper levels on Friday by forming a higher high structure.

In this stormy market, the shares of Praj Industries also made a lot of noise. On Friday, the stock of Praj Industries Ltd rose by 16.65% and during this period the continuous decline in this stock stopped. The market cap of Praj Industries is Rs 14.38 thousand crores.

According to the information released on the exchanges, the company has set a target of 3 times revenue growth by 2030. According to Praj Industries, the company has set a target of three times growth in revenue by 2030, for which new opportunities are being exploited. By the year 2030, Praj Industries wants to triple its earnings by focusing on biopolymers, sustainable aviation fuel, and energy transition.

On today's price action of the stock, Kaleem Khan, Founder of Petal Research Capital, said that Praj Industries saw a low of Rs 670.00 to a high of Rs 804.00 in a single day. During this time it also broke its resistance level of Rs 700 on the daily chart. If we look at the daily chart of Praj Industries, there has also been a breakout of a trend line coming from above at the level of Rs 730. Along with this, the strong resistance level of 752 in the stock also broke. If the stock had stopped at any level in between, then the level of Rs 70 would also have been a strong resistance level, but in today's rally, the stock did not stop at any intermediate level.

The bumper rise of 16.65% in a single day has crossed many hurdles in this stock. However, it closed at Rs 788.00 which is below its psychological resistance level of Rs 800. This level can be a rejection level in Praj Industries in the coming days. He said that there may be consolidation in the stock in the coming days.

Kaleem said that now some investors can keep trailing stop loss in this stock, which can be at the level of Rs 770. At the same time, to go up, it will have to go through a consolidation phase.