Small Cap Breakout Stock : Pritika Auto Industries

Pritika Auto Industries BSE Listed 539359 is an Auto Ancillary based company having 5 plants in Punjab and Himachal Pradesh. Pritika Auto Is OEM  Manufacture and supplier to M&M,Stocks made a Fresh 52 Week High suggesting more price appreciation can be seen in short term.

As Agriculture theme is ruling the market and All Tractor Based Stocks (Escorts,VST Tillers) are Hitting life high with demand picking up the in Rural Side. Pritika is OEM Manufacture for tractors and supplies to most of leading tractor manufacture suggesting they will also have positive impact on their revenue and profits. Latest Quater Results shows both increase in profits and revenue.

On Technical Side Pritika Auto Industries was consolidating in range of 82-107 from last 4 months. Price on Last Friday has closed above 108 with volumes suggesting breakout on charts as discussed below.

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

Traders can Buy in range of 106-109 For target of 116/121/127/133/139 with SL of 100.

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

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