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 88-90.

Theme in current market is Agriculture. All Tractor Based Stocks (Escorts,VST Tillers) are Hitting life high with demand picking up the in Rural Side. Pritika provide the part to most of tractor manufacture suggesting they will also have positive impact on their profits.

On Technical Side Pritika Auto Industries  is forming an Triangle Pattern as shown in Below chart and price is near Resistance of 88-90. Same Range acted as good support before the fall in March.

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

Traders can Buy in range of 89-91 For target of 99/108/116/121 with SL of 80.

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

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