MRPL is going against the market tide, and if the investors want to take advantage of this volatility, buy it around Rs 127.45. The stop loss is at Rs 123, and it will definitely reach above Rs 135. The maximum target for the day is Rs 140.
MRPL is looking too strong at current levels. The stock opened at Rs 129.5 as against its last closure at Rs 127.45 on BSE. The 52-week high of the stock was Rs 148.6. Presently, it is hovering around Rs 134.
Stock analyst VK Sharma advised the investors not to stay with the stock more than a day.
Technical analyst, Rajat K Bose has recommended that Praj Industries stock is looking strong for intraday trading today.
He also suggested that the interested investors can buy the stock with a stop loss below Rs 204 for targets of Rs 218 and Rs 223
The CMP is Rs 217.85, up 3.6 percent on BSE. On NSE, it has gained around 3.1% up till now. Investors need not to worry if the stock price falls because it is a good stock for intraday trading and it has already proven its brilliancy in day trading movements.
Last month, it has commissioned UK’s first bioethanol plant for British Sugar at Wissington, Norfolk.