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GRA92 trade ideas

GRASIM - UP for a 10% correction from 2500 levels? CMP - 2508 TF: daily 5 wave impulse from June'22 lows (1271) has ended at 2877.75. The Zone for the 5th wave termination was between 2731 to 2923 Internal counts are highlighted/mentioned in the chart for easy understanding. Upon completion of the 5 wave impulse, price came down in single leg about 380 points. We can consider this as wave A and then a corrective rise to 2833 for wave B and thereby making a Double TOP. Price is now trading in the C wave and could potentially head towards 2200-2100 levels in the coming sessions. This fall could very well be a 5 wave structure too.. but for now, I have labelled it as 3 wave down-move only. Break of the 2-4 trendline (rising trendline from wave 2 low of 1521 and wave 4 low of 2171) would confirm trend reversal For now. the AVWAP from the B wave top at 2645 will act as the RESISTANCE - Price has broken the swing low of 2505 and consolidating at the breakout zone. Needless to say, the first dip to this level was bought in to already.. the current consolidation could very well signify a potential breakdown. - the 2490-2510 range is also happens to be the 200 DEMA.. Price is consolidating here instead of bouncing up strongly. - Price on Daily TF is trading well below the Cloud, Base and Conversion lines.. - The next potential SUPPORTS are 2171 June'4th Low, and 2210 (AVWAP from the lows) - Since this is a retracement of the entire impulse from 1271 to 2877, the 50% fib level is placed at 2075 - In harmonic pattern, the minimum expected target is around 2250 - Assuming that this is a 3 wave swing, I have considered alternate Shark pattern in Harmonics.. if it goes past the X leg at 2182, then Cypher pattern will come in to play (target would be 1900 to 1700).. to be reviewed how it acts at 2000-2200 levels first. I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.
NSE:GRASIMShort
by Murthy_Santhosh
7
Grasim Industries Ltd Analysis for 14th OctoberRed levels represent selling zones. Green levels represent buying zones. Orange levels are important levels, which can act as either buying or selling points depending on the market's behavior. If the market opens above the orange level, it will act as a buying level. If the market opens below the orange level, it will act as a selling level. Regarding the current market close (2,721.20), the closest orange level is not visible on the chart. However, based on your analysis, any movement around this area should be carefully watched for potential buying or selling reactions on the next trading day. This analysis is for 14th October, provided in advance to help plan trades effectively.
NSE:GRASIM
by XTrap_000
#GRASIM Support & Resistance #GRASIM Current Price: ₹2,678.25 Trend: Sideways (Consolidation Phase) Chart Pattern: Rectangular Consolidation (Range-Bound between ₹2,600-₹2,800) Resistance Levels: Immediate resistance: ₹2,750-₹2,800 Next resistance: ₹3,000 Support Level: Immediate support: ₹2,600Strong support: ₹2,550 (stop loss level) Volume: Moderate volume, with a decline during consolidation; significant volume spike seen earlier in July during the uptrend. Recommendation: Buy near support level around ₹2,600 if it holds Place a stop loss at ₹2,550 to manage risk Target price range: ₹2,800-₹3,000 for short- to medium-term gains
NSE:GRASIMLong
by EmpireCrown
Grasim Industries - Bullish Flag PatternLet's break down the analysis provided for Grasim Industries Ltd based on the bullish flag chart pattern, as outlined by Arvind Share Academy. This is for educational purposes, so here’s how you might evaluate and implement such a trade: Trade Plan Breakdown Current Market Price (CMP): ₹2700 Context: This is the price at which Grasim Industries Ltd is currently trading. Understanding the CMP helps to set up entry and exit points effectively. Buy Above ₹2725 Entry Point: The suggestion to buy above ₹2725 indicates a breakout level where the stock price is expected to move higher if it surpasses this level. This price is above the consolidation phase (the flag) and is likely where the upward momentum should resume. Purpose: This strategy aims to enter the trade only when the stock shows a confirmed breakout from the bullish flag pattern, reducing the risk of buying into a false breakout. Stop Loss (SL) at ₹2640 Risk Management: The stop loss is set at ₹2640, which is below the flag pattern and recent consolidation lows. This level is crucial for limiting potential losses if the trade does not go as planned. Rationale: Setting the stop loss at this level protects against significant downturns while allowing some room for price fluctuations. Target 1: ₹2865 First Target: This level represents a near-term profit-taking point. It might be based on technical projections from previous resistance levels. Strategy: It’s often wise to consider taking partial profits or reassessing the trade when the stock reaches this level, especially if it faces resistance. Target 2: ₹3000 Extended Target: This target is set higher, assuming that the bullish momentum continues beyond the initial projection. This level reflects a more optimistic outcome and suggests further potential upside. Strategy: As the stock approaches this level, monitoring its behavior is key. Adjusting stop losses or taking additional profits may be prudent if the stock shows signs of reversing.
NSE:GRASIMLong
by Arvind_Share_Academy