High probability that the stock of a Grasim to take pull back from the trend line after the sudden downfall. A bullish candle can be seen on the charts. Long entry above 1730 for the target price of 1750-1780 can be taken. This is for your educational purpose only.
On daily timeframe Grasim has formed cup & handle pattern.
Entry:
We can take long trade after close of strong bullish candle above resistance zone.
Stoploss:
We can keep the Stoploss below the resistance zone.
Target:
We will keep target near the next resistance zone, as marked on chart.
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GRASIM weekly chart is hovering around ATH, making inverse head and shoulder and descending triangle, we can anticipate a breakout here.
ENTER AS PER YOUR SETUP IN LOWER TIME FRAME
STOP LOSS @ 1650
FIBONACCI TARGETS AT 2100 AND 2300 OR TRAIL USING 20/50 EMA.
Buy Grasim positional above 1785 target 1841. Reason for trade, Cup and Handle pattern in formation Stock in strong uptrend.
Please Note I am not SEBI registered advisor, this is just my view and is for educational purpose. Please consult your financial advisor before taking trade.
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3. Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
GRASIM:- The stock has given a breakout of the trendline. If the stock sustains above 1726 level, then we may see a movement to the upside.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be posting more such ideas like this. Until that, like share and follow...
Attached: Custom Cement Index/ Nifty 50 Daily Chart as of 21st April 2023
(Note: The above Chart is my Custom Cement Index made up of all the F&O Cement Stocks and this is the Ratio/ Relative Strength Chart version of it, against Index Nifty 50. This gives us an idea of the Relative Strength of the Cement Stocks and used to find out whether they are likely to...
Grasim has given breakout followed by confirmation candle. Further it retraced and took suppport on 8 EMA on daily time frame and is now ready to continue its upward journey.
ENTRY TARGET SL Mention in the chart.
ALWAYS TAKE TRADE WITH CONFIRMATION
Note : Trading in any financial market is very risky. I post ideas for educational purpose only. It is not financial advice. Do not hold us responsible for any potential loss you may incur. Please consult your financial adviser before trading.
