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.
Grasim broke out of its triangle pattern today and opened gap up.
As of now,the stock is retracing back to its upper trendline and it can provide a good opportunity for a swing trade with 3%/5% targets depending on the RR.
Trade will be initiated when pullback occurs. NSE:GRASIM
Please keep an eye on the stock of Grasim industries buy above 560 . This resistance level is tested again again in today' session. once the resistance level broken short term Target of the stock is 570- 575. This stock is in very bullish mode. buy at the given levels only. Do not enter in the trade before the level. levels are very important factors. best of luck.
Grasim Perfectly in the golden reverse point...
Gap down : Buy when the price come inside the channel...
Gap Up : Its sustain above black color means...keep your buy posision...
Normal open : Wait for price come around 498-500 range,,,, 500 strong support in oi....
Do your own anlaysis before taking position...
My View : Bullish
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX
Wait for entry setup, if available then Long/short.
Reward is 8 to 15 times.