Grasim formed an inverted "HEAD AND SHOULDER PATTERN" and the first target of 1700 is achieved. Now it's trying to cross the zone 1650 - 1700. Thus the Volume in Grasim looks good near the resistance level of 1700.
BUYING- 1704 or above we can look for buying and a morning 5min candle should close above 1700 will give a good rise. - we can look for an inside candle and then take a trade. - if it opened FLAT then we have to wait for the breakout. Selling- If the 1700 level is taken as resistance then we can sell below 1690 which can lead it to the target of 1680 to 1660.
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i have taken entry for a swing trade at closing time but tomorrow there will be huge gap down
SUTHARTRADE
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@KUNALGONDHALI, yeah The US Fed increase will likely impact India in two ways, First, it will encourage the foreign institutional investors to continue their selloff which could see benchmark indices coming under pressure further second, it will continue to weigh on the Indian rupee. that is why we can see some gap down. You can trail your STOP LOSS according to your RISK reward GRASIM is the textile industry and we are having DIWALI this month so that can help us a little bit to stay in that zone. NOTE- INDIAN market is still not that much on the Bearish side we can see some pullback from 17000 to 17200 in nifty but below 17000 we can move below in NIFTY and we can see bear move.
KUNALGONDHALI
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@SUTHARTRADE, tysm buddy actually i booked some loss and replaced trade with axis bank which recovered all the losses and made 2x out of it