GrindWell Norton : Buy on close above 590

Gindwell norton had given breakout from 470-575 range , sustained above it and then moved back within the consolidation. Swing high of 590 (visible on chart) has been creating hurdle from last 6-8 sessions where counter did failed attempt to cross level. Bollinger Band mid line is at 580. RSI and CCI has given positive cross over but we'll wait to see close above 590.

Delivery Trader : Buy only on daily close above 590 with stop loss below 560 (daily closing) for target 675

Very short term trader : Buy on daily close above 590 with stop loss below 578 for target 615

Comment:

Today counter spiked to touch 590 and then again fell back to close at 576. It confirms our view that 590 is important level to watch out on closing basis. We'll now seek volume supported ( above 10 day average or highest in last 20 days) close above 590

Trade active:

Buy has triggered today. Let's see what happens.