GRASIM IN A POSSIBLE DOWNTREND
Updated
Stock managed to break on the negative side of the channel previously i had given lot of buy calls on the stock, but due to the channel breakout its time to go short
although it was given a huge breakout already i belief that there is further downside momentum in the stock.
Reason the stock just closed below its crucial support of 1131 and now will find resistance at that levels
Now understand this,
there are 3-sma 50/100 /200 it is clear that and 50 and 100 are taken out and the stock will test the 200-dma.
It is bound too,but that is not important for me the most important part for me is that the 50-dma is closing on the 100-dma and is just 20 points away from negative crossover that happens then its a indication for the stock that it is going to move on the downside.
Now the 200-dma is at 1035 and the next crucial weekly/monthly and daily support is at@1045-48.
So lets time the trade........
TRADE VIEW:-
SHORT @ 1115-1120 WHAT EVER THE OPENING
STOP @ 1135
TARGET 1 @ 1090(SWING TRADERS)
TARGET 2 @ 1065(POSITIONAL)
TARGET 3 @ 1050(POSITIONAL)
!HAPPY TRADING!!
!!PLEASE LEAVE A LIKE COMMENT BELOW!!
!!WATCH out for BTST/STBT IDEAS @ 3:20!!
!!EVERYDAY!!
SOON GOING TO START MORNING TRADES@9:20
MANAV KHANDELWAL
TEHCNICAL ANALYST,
STOCK MARKET TRADER AND BROKER,
CMT-2
CFA -1
B.COM (FINANCIAL MARKETS)
although it was given a huge breakout already i belief that there is further downside momentum in the stock.
Reason the stock just closed below its crucial support of 1131 and now will find resistance at that levels
Now understand this,
there are 3-sma 50/100 /200 it is clear that and 50 and 100 are taken out and the stock will test the 200-dma.
It is bound too,but that is not important for me the most important part for me is that the 50-dma is closing on the 100-dma and is just 20 points away from negative crossover that happens then its a indication for the stock that it is going to move on the downside.
Now the 200-dma is at 1035 and the next crucial weekly/monthly and daily support is at@1045-48.
So lets time the trade........
TRADE VIEW:-
SHORT @ 1115-1120 WHAT EVER THE OPENING
STOP @ 1135
TARGET 1 @ 1090(SWING TRADERS)
TARGET 2 @ 1065(POSITIONAL)
TARGET 3 @ 1050(POSITIONAL)
!HAPPY TRADING!!
!!PLEASE LEAVE A LIKE COMMENT BELOW!!
!!WATCH out for BTST/STBT IDEAS @ 3:20!!
!!EVERYDAY!!
SOON GOING TO START MORNING TRADES@9:20
MANAV KHANDELWAL
TEHCNICAL ANALYST,
STOCK MARKET TRADER AND BROKER,
CMT-2
CFA -1
B.COM (FINANCIAL MARKETS)
Trade active
GOOD DAY!!Trade closed: target reached
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*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
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