praveen.bhatiya

GRASIM SHORT Engulfing & Divergence !

Short
NSE:GRASIM   GRASIM INDUSTRIES
Today's big Black candle which engulfed the last 2 candles and closed at lowest level is showing the forthcoming weakness. It is also showing bearish divergence in the overbought Zone. One can short the stock at the level where Stop Loss of 1102 on closing basis is affordable to them.

Comments

Had posted this but didn't follow through. Today's candles, as rightly mentioned sends a bearish signal.
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@dravya, I THINK THE TARGET FOR THIS SETUP SHOULD BE NEAR TO 1017 - 1024....1ST TARGET...
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dravya GRINDELWALD
@GRINDELWALD, there's a pivot at 1030.
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@dravya, RIGHT......BUT IT SEEMS IT WILL CROSS THE PIVOT LEVEL.....
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