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 staying below the trendline is looking weak. Keep an eye on the price action at the trendline, the level to watch is below 1590 -.
~ Breakout Stocks App
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...
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...
Grasim :
1. at the edge of upward channel breakout.
2. InHS pattern breakout with retest.
3. My favorites apna wala candle formation good for 2marrow and nxt 5 days only above 1660 can move 3 to 5% its positional idea.
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 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!
Head and shoulder + Cup & Handel Both patterns are applying now with volume
In F&O Buy Oct future and Sell Sep 1660 CE Eat full premium if not touch this price.
If you want to hold a position then After this expiry sell 1660 Oct CE and hedge your position for sefty.
Hello Traders👋
Today i have made a post on GRASIM 15M
I hope you find this post helpful and informative👍
The targets and stoploss would be given in the charts or they would be according to pivot points
Thank You
—DISCLAIMER—
I am not a SEBI registered financial advisor
Please consider your consultant's advise a must , all the setups posted here will be...
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