Praj Industries: Awaiting A Breakout

This stock looks bullish in the weekly and monthly charts. A look at the daily chart indicates consolidation near a key resistance level (denoted by the red dashed line). Am waiting for a breakout above the line (backed by higher volume) before buying this one. My guess is that it is just a question of time before the stock registers a big breakout and heads north.

Lets wait and watch if the breakout does happen. There are of course a lot of other nuances that a passionate chart reader can spot. Am not getting into details. Let me have your thoughts too.