Grasim Was amongst NIFTY's Top gainer as on May28,2021 with a change of 3.41%. Q4 profit rose 13.3%.
Technically it has breached the 0.618 extension level, the spike in volume followed by the candlestick are indicative of a bullish move.
what is ideal in above scenario, do we take a long position once the stock clearly breaches the strong resistance line.( as shown in your analysis) or
do we wait for the stock to retest resistance line from above after breaching it.