GRASIM
Grasim Industries At bottom of triangle.Grasim Industries has taken a good support on weekly time frame as well as daily and formed a triangle. This could be a good short term trade to buy at dips and with 8-10% profit. Make sure to put SL below trendline. Wait for bullish sign tomorrow and enter only if market is bullish else ignore..
Tringle pattern breakout in GRASIM . when to enter .As you can clearly see grasim gave a tringle pattern break out in daily chart . Now what further moves can be . According to me when these types of breakout comes market take a regression in upcoming candles . So on monday I will be waiting till 11:00 AM and than if market will be bearish I will not enter . But if market will be bullish i will take a swing position .
also check macd and rsi are strong .
And yu can see my targets on chart .
This is mine own analisys do yours as well its my opinion and should not be taken as tip.
Fresh Breakout in Grasim Good Opportunity for BuyingNSE:GRASIM
As whole market took a good correction , Grasim took a correction of
16% from its ATH. it took a trending resistance while coming down and
Broke it recently as well as gave breakout to the consolidation of past few
Days and seems very bullish and shoes a great opportunity for buying.
Addition to this CNXINFRA(NIFTY INFRA) has also gave a sectoral breakout .
as Grasim being its good member money inflow would start in it as well.
We can consider an entry on retracement or above the high of previous candle
for the given targets in the chart.
HAPPY INVESTING!!!
NOTE - THIS TRADE IDEA IS ONLY FOR EDUCATIONAL PURPOSE
WE ARE/WOULD NOT BE RESPONSILE FOR ANY PROFIT OR LOSS
Grasim: On the verge of Falling wedge Breakout The stock is testing the resistance of falling wedge pattern.
1640-1630 which was previously a resistance should work as support and if stock bounce back from that level, then we can see a new rally for its ATH.
Final support can be considered at the double bottom formed at 1590 levels.
DISC: For educational purposes only.
GRASIM is on a support lineNSE:GRASIM is on a two support line one is a trendline and another is a resistance turning into a support and showing a weak signal in two stanza :-
1. As per the market sentiments are weak due to which the support might not sustain
2. And another is that the trendline has already tested multiple support so this time might not be strong enough to make move grasim upward again
Thus, my idea is bearish in GRASIM
SL-1655 || Target-1528
DO like it its worth!!!
Simple Trade Setup | GRASIM | 14-12-2021 [ INTRADAY ]NSE:GRASIM
Observations:
1) On 1day time frame,it managed to sustain above 50DMA.
If it take support from 50DMA and trades above it then we can see an up move.
50DMA is placed at 1729.64 level.
Please refer below chart : 1day Time Frame.
2) Also On 1day time frame, it made double bottom pattern and sustain above the mid neckline of it.
Major breakout level range is 1360-1370 level range.
Please refer below chart : 1day Time Frame.
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Trade Setup for Date: 14-12-2021
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.