Cup and handle pattern formation in Grasim 1hr Time Frame chart and Inverse Head and shoulder pattern and small consolidation,
Higher Time frame trend also looks strong, if 1hr candle closes above 1775 then it can go for 1820 levels,
if it continue and break 1850 levels then we can see 1900 level in very short time.
(this cup pattern sits with inverse head and...
Trendline Breakout is observed in Grasim Future, Stock is trading in momentum. Today Up by 2.5% with volumes. We expected stock to head higher from current levels, We are buying Grasim future for the Targets of 1750 with Stoploss of 1620
📈 Grasim Industries 📉
This Stock Broke out from a resistance zone of 1600-1630 which was acting as a support also Oct, Nov and Dec 2021 and today managed to close above it.
Bias - Long
Target - 1778, 1920
SL - 1556
RR- 1 : 2.5
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you...
Grasim is just near a weekly time frame resistance zone.
Short the stock, if the price break down below 1540.
Support :- 1541, 1500-05
Resistance zone:- 1572-1597
On daily closing basis the price has closed near the resistance zone.
Wait, watch and trade.
Hi everyone, Grasim industries mid term swing trade consider buy above: 1,790, targets: 1,894/1,965/2,080, stoploss: 1,722.
LOGIC BEHIND TRADE: Stock on daily chart has formed (W) pattern & near it`s resistance if breaks next resistance will be all time high above (ATH) on weekly chart (harmonic xabcd pattern level 1.618) will be activate & target will be 2,080....
We are expecting the price to reach 1880 which can be a potential resistance level for stock, while on the downside support is at 1700. We can build a trade at CMP with a stoploss at 1700 and 1880 as target.
Grasim on a weekly and daily time frame looks bullish once it crosses and closes above 1878 level.
It can test it's ATH and make new high in the coming week.
On Fibonacci retrenchment level target can be 197,2016 and 2077.
Wait for the breakout.
NSE:GRASIM
Grasim followed Fib retracement perfectly. As per given in my previous idea it took good support from 61.8% level range.
Please refer below chart.
Now what next?
Just simply if we apply the same level range of FIb retracement then we can see below levels.
This levels will be for short to mid term positional trade.
Sustainable Breakout of 1700...
NSE:GRASIM
Observations:
1) On 1 day time frame, if we apply fib retracement for recent swing from low to high we can see that it is just above 61.80% level of FIB Retracement and level of 1590-1591 will work as good support now.
Please refer below chart : 1day Time Frame.
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One can enter for positional trade from...
NSE:GRASIM
Observations:
1) One 1 hr time frame,It made inverse head and shoulder pattern and given breakout of it on 24-09-2021. And it closed above the neckline of it.
Please refer below chart : 1 hr time frame.
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For Positional Trade for short-mid term target on long side will be 1700- 1720 - 1750. SL will be...
Grasim has given a breakout at the level 1620
It may retest the support downwards around 50 EMA or from the trend line. It can also take the support from the breakout level, but will definitely hit the target
Traget :- 1800
Grasim with an inverted head and shoulder pattern!
It can be the movement where it can continue making its ath!
Stay cautious of the upper resistance of 1696!
![GRASIM: Simple Trade Setup | GRASIM| 11-10-2021 [Intraday & positional]](https://s3.tradingview.com/1/183iVrAs_mid.png "Simple Trade Setup | GRASIM| 11-10-2021 [Intraday & positional]")
![GRASIM: Simple Trade Setup | 27-09-2021 | GRASIM [Intraday & positional]](https://s3.tradingview.com/v/vQPfAH32_mid.png "Simple Trade Setup | 27-09-2021 | GRASIM [Intraday & positional]")
