Grasim is in strong uptrend….
Reasons/Traits :
• Bullish Cypher harmonic pattern and its retracement is completed
• Strong uptrend with high increasing volume is seen
• Grasim is again at life time high
• Further uptrend on earlier highs of 22nd Jul and 2nd Aug 2021 were rejected now again testing high levels
What can happen next :
Scenario 1 : Strong uptrend possibility as Grasim is at life time high to reach 1640/1700 levels to complete 1.237/1.618 Fib retracement levels
Scenario 2 : A downside break of fib 0.786 levels can test 0.618/0.5 levels (profit booking, before further uptrend)
1570-1600 is important zone, let’s see..
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Reasons/Traits :
• Bullish Cypher harmonic pattern and its retracement is completed
• Strong uptrend with high increasing volume is seen
• Grasim is again at life time high
• Further uptrend on earlier highs of 22nd Jul and 2nd Aug 2021 were rejected now again testing high levels
What can happen next :
Scenario 1 : Strong uptrend possibility as Grasim is at life time high to reach 1640/1700 levels to complete 1.237/1.618 Fib retracement levels
Scenario 2 : A downside break of fib 0.786 levels can test 0.618/0.5 levels (profit booking, before further uptrend)
1570-1600 is important zone, let’s see..
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
Comment:
Scenario 1 activated, so far reached high of 1658, currently cup and handle formation is seen. Can give a break out..
Comment:
1694.3 high so far, have to break the trend line to further go up
Comment:
touched 1.618, scenario 1 completed
Comment:
inching towards 2.618, following perfect waves...