Grasim Industries at an important level. Will the stock give a breakout ?
Breakout or Breakdown ? Will the stock give a breakout this time
Pattern : Long term Rounding Bottom. Rationale : 50SMA soon will crossover 200SMA and Recent MACD Crossover. Buy : 350 SL : 320 Target : 400+ Risk/Reward : 1.8
Key Points - Upward movement with higher volume - Up trending stock - Trading near 52W high zone - RS positive, momentum is positive - Trading on support - Favorable R:R - Pullback may come soon
Support from fibo levels for multiple time and now support with 200 EMA
NSE:ICICIPRULI ICICI Prudential Life Insurance Company Limited is a life insurance company in India. Established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, ICICI Prudential Life is engaged in life insurance and asset management business. ICICIPRULI forms bullish hammer on 6 sept,2023 and gave closing above hammer...
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Nifty levels to React 19730 Above Long Targets 19770,19800,19820 19680 Below Short Targets 19660,19630,19600, Check price action on mentioned levels before taking entries.Previous day high,Previous day low , Previous day close are always important mark those levels before start of new session make a habbit of it.
BankNity though it gave good move to upside today closed right at nose of good supply zone which previous kicked down nearly 1000 points to downside in one day(24th Aug reference). Keep on eye on 45000 to 44900 area any negative price action short it target 44770,44600,44400,44250. For long only if sustains above 45100 with good 15 mins candle close then trustworthy.