Needs to be above 0.5 retracement 842 Target 950 (0.618 retracement)/ Please review this as I am new to Technical analysis.
The stock is trading in rising wedge pattern. CMP: 826 Target: 870, 900
Note: This is for educational purpose only. 21 EMA seems to act as dynamic support. Moreover, 21 EMA is above 55 EMA which indicates short term bullish momentum. RSI at 58 is nearing bullish momentum. There seems to be a inverted bullish hammer at dynamic support.
Price - ₹778.35 Dt. - 31-10-2020 As discussed earlier on the weekly chart that the stock is in the continuous downtrend from a few years but recently last month the stock broke the streak and started moving upward. looking at the historical daily chart we can conclude that stock can give buy and sell signal through 50DEMA and 21DEMA. But observing carefully if...
a. Zone: Strong Bear b. Resistance 1: 784 c. Resistance 2: 789.55 d. Support 1: 767.25 e. Support 2: 764.50 NSE:GRASIM
in zone of 805 to 820 with 835 sl for 765// 740 / 730 zone
Buy setup 1st target = 834.50 2nd target = 925.95 lot size = 950 LIKE & FOLLOW for more amazing idea Don't forget to check out related ideas
NSE:GRASIM A long position can be initiated in Grasim above INR 780.
Above 777 the scrip might push towards 798/821/836. Regards
Swing + Intraday Setup: Looks good above 767 for 780/790/800. SL can be 760. Note: I am not a SEBI register and view is only for educational purpose as well as personal, always consult your financial advisor before investing or trading.
Grasim after a strong impulsive move from 774 -742 , Yesterday It is with in 38% Range formed flat irregular, Expect another strong down move to 725-720.(approx, even more) Note : ( ~ ) 👈 approximate value
NSE:GRASIM Near to supply zone.... Possible Pullback or towards higher level
Short Grasim on rise around 750 sl 766 target 725-710-698 Disc : It's not an advice to buy or sell
Grasim is stading on a resistance level if crosses this hurdle, it will give you quick target of 800
See the description above Regards