GRASIM 06-11-2023 LONG
GRASIM INDUSTRIES LTD is an interesting chart for following reasons
1. Weekly chart : Long ascending Triangle breakout and its retest during last week and price taking support at trend line at 1824-1830 zone
2. 20 week SMA support at 1840 levels
3. Daily ABCD pattern under formation
4. Daily - Stock Making higher highs for last 3 days,
5. Outperforming Sectoral index for 1 week and 3 months
6. Monthly RSI above 60 Weekly RSI Above 50 and daily RSI rising
Can be a good Risk reward with resistance at 1959- 1990 - 2030 zones
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. Weekly chart : Long ascending Triangle breakout and its retest during last week and price taking support at trend line at 1824-1830 zone
2. 20 week SMA support at 1840 levels
3. Daily ABCD pattern under formation
4. Daily - Stock Making higher highs for last 3 days,
5. Outperforming Sectoral index for 1 week and 3 months
6. Monthly RSI above 60 Weekly RSI Above 50 and daily RSI rising
Can be a good Risk reward with resistance at 1959- 1990 - 2030 zones
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.