Today's big Black candle which engulfed the last 2 candles and closed at lowest level is showing the forthcoming weakness. It is also showing bearish divergence in the overbought Zone. One can short the stock at the level where Stop Loss of 1102 on closing basis is affordable to them.
ABIRLANUVO perfect balance sheet company. The company will be in the correction mode now. One can buy it at the level of 1331 with the target of 1450 in coming days.
Even RSI is showing overbought as of now.
Hello friend,
Grasim is just came from touch the resistance level and going down further, if any body want to take advantage and go short of this correction, may be he will be wise person as called as smart trader, it is a small target target and please hold for 3-4 days.
It is been observed on Weekly chart that the price action forms a bearish pin-bar candlestick pattern indicating rejection of higher price action and seller dominance over price action. Now, it shall further move down to next support levels.
Target 1: 800
Target 2: 750
Stoploss: 880
With the recent news of merger of adityabirla Nuvo - ABIRLANUVO and GRASIM sentiments are hurt. The Big Players are getting replaced with this decision. Both the stock will go down technically, however, the business model are similar and hence will help the company as a whole. Particularly Second quarter results or Half yearly result of the merged company will be...
