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.NSE:GRASIM
Trade active
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Retracement done. Pullback signal in one hour timeframe confirmed. Bought at 578.50.
Comment
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579 - - > 592 Still holding for at least 595 target. Overnight position is risky in current market situation but let's see what happens on Monday.
Comment
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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.