GRASIM - HEAD N SHOULDER Short

GRASIM INDUSTRIES LTD.BSE

Description

⋅ May 18, 2017 9:01 AM

It is been observed on daily chart that the price action formed a bearish Head and Shoulder, indicating a further weakness ahead.

Target: 1100

Stoploss: 1165

Trade active

⋅ May 18, 2017 9:03 AM

Comment

⋅ May 18, 2017 9:24 AM

I shall update the Target 2 once it breaks and closes below the channel in order to provide greater reward. Regards

Comment

⋅ May 18, 2017 10:09 AM

Today's closing confirms the HnS pattern and now it shall further dip to 1100 levels and 1080 levels. If tomorrow, it shall give another good opportunity to short once it comes around 1140 levels.

#Follow Up

Regards

Trade active

⋅ May 19, 2017 3:46 AM

Trade closed: target reached

⋅ May 19, 2017 9:45 AM

Target 1 reached successfully. Regards

GRASIM Head and Shoulders

Comments

SatyamMishra

⋅ May 18, 2017 9:21 AM

With all due respect don't you think it's a poor risk to reward ratio.

NeeteshJain

⋅ May 18, 2017 9:23 AM

@SatyamMishra, It is 1 to 1 risk reward on Target 1 and I shall update the Target to which will take this to 1:3 risk reward. Regards

Macky999

⋅ May 18, 2017 4:19 PM

@NeeteshJain, thanks bro..

SatyamMishra

⋅ May 19, 2017 9:53 AM

@NeeteshJain, thanks

abhinavk31

⋅ May 19, 2017 9:50 AM

Good one you rock sir...is there further downside expected? Should one sell further? Thanks

nirav5

⋅ May 18, 2017 12:12 PM

Thanks.