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GRASIM CASe studyGrasim spot cmp 1750 levels cup and handle pattern formation, where breakout can be confirmed above levels of 1835 , need 2 consecutive daily close above levels for confirmation symmetrical triangle pattern formation, where counter have resistance zone around 1790-1825 levels and support zone around 1690-1720 levels. decisive breakout on any side would lead to a move of 8-10% on either side. pre assumption of harmonic pattern formation. if the formation goes according to ploting, counter would give sharp retracement to levels of 1450-1500 levels, elliot wave suggest counter is trading in 5th wave of motive phase, now as there are cofluence of resistance around 1790-1830 levels wave 5 can be trucated in nature and soon the motive phase might come to end, now if happens so motive phase would lead counter to good retracement levels,, time to book you long position on every rally, now investment should be considered only above levels of 1835 on 2 consecutive close, Bulls need to be cautious at current juncture.
NSE:GRASIM
by RUDRA007
NIFTY50 INDEX HEADING TOWARDS ALL TIME HIGHNIFTY50 Index is range bound ( in range of 18000-18180 ) since 1-11-22. Eight trading sessions are gone. Index does not break the range. I drew a parallel lines for defining range. If, market showing upward trading in upcoming session, it will create double bottom and index will touch all time high in near future. However, If Index breaks 17900 on closing basis, then market will be in bearish mode. It is very unlikely scenario. First, we will discuss factors enabling bullish scenario. 1. Nifty50 stood at PE of 21.53 as on 10-11-22. It's showing very affordable valuation of Indian stocks. 2. FII bought INR 8531.51 Cr. till 10-11-22 ( taken from NSE) Except two days, We have seen FII inflow in cash segment on continuous basis since 20th Oct-22. Fingers are crossed, In my opinion; we will see all time high market.
NSE:NIFTYLong
by UnknownUnicorn39322609
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