Grasim broke out of its triangle pattern today and opened gap up.
As of now,the stock is retracing back to its upper trendline and it can provide a good opportunity for a swing trade with 3%/5% targets depending on the RR.
Trade will be initiated when pullback occurs.
GRASIM
As of now,the stock is retracing back to its upper trendline and it can provide a good opportunity for a swing trade with 3%/5% targets depending on the RR.
Trade will be initiated when pullback occurs.
GRASIM
Trade active:
Retracement done. Pullback signal in one hour timeframe confirmed.
Bought at 578.50.
Bought at 578.50.
Comment:
Exited at target 1: 592 and target 2 : 595+
Made high of 599. Actual target should have been near 599 as it was a resistance area but booked early and missed almost 1% of upmove.
Anyway, 3.3% is pretty good for a one day holding trade.
Made high of 599. Actual target should have been near 599 as it was a resistance area but booked early and missed almost 1% of upmove.
Anyway, 3.3% is pretty good for a one day holding trade.
Still holding for at least 595 target.
Overnight position is risky in current market situation but let's see what happens on Monday.