Small Cap Stock Breakout: Pritika Auto Industries

Pritika Auto Industries BSE Listed 539359 is an Auto Ancillary based company having 5 plants in Punjab and Himachal Pradesh.  Stock is nearing its resistance level of 96-99.

Auto Sector will be in Limelight for Next few days as Scrappage Policy will be Finalized by Cabinet Soon and its will have a Positive Sentiment on All Auto stocks. Click on Below Link to Read more on the Policy.

Scrappage policy could get cabinet nod as early as in 15 days: Nitin Gadkari

On Technical Side Pritika Auto Industries  is forming an Ascending Triangle Pattern as shown in Below chart

Looking at both Fundamental and Technical Pritika Auto Industries look ripe for Breakout with small SL.

Traders can go long in range of 97-99 For target of 108/116/121 with SL of 90 in 1 Month Time Frame.

Please do your research, and trade in small quantity. SL should be applied on Closing Basis.

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