GRASIM INDUSTRIES LTD chart.
Forming a cup and handle pattern, which is generally a bullish signal.
Here's a simplified breakdown:
Cup: Notice the rounded bottom shape that formed roughly between November 2024 and April 2025. This suggests the price found support after a decline and started to move upwards again.
Handle (Potential): After reaching a high around ₹2,770, the price has pulled back a bit. This dip could be forming the "handle" of the pattern. Ideally, this handle should be a smaller downward or sideways movement.
Breakout Level: The horizontal line you've drawn around ₹2,770 acts as a resistance level. If the price breaks above this level with good volume, it could signal that the cup and handle pattern is complete and the price might move higher.
Target: Potential target around ₹3,375.10. This target is often estimated by measuring the depth of the cup and adding it to the breakout level.
Forming a cup and handle pattern, which is generally a bullish signal.
Here's a simplified breakdown:
Cup: Notice the rounded bottom shape that formed roughly between November 2024 and April 2025. This suggests the price found support after a decline and started to move upwards again.
Handle (Potential): After reaching a high around ₹2,770, the price has pulled back a bit. This dip could be forming the "handle" of the pattern. Ideally, this handle should be a smaller downward or sideways movement.
Breakout Level: The horizontal line you've drawn around ₹2,770 acts as a resistance level. If the price breaks above this level with good volume, it could signal that the cup and handle pattern is complete and the price might move higher.
Target: Potential target around ₹3,375.10. This target is often estimated by measuring the depth of the cup and adding it to the breakout level.
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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.