GRA92 trade ideas
GRASIM - Inverted bullish hammer at dynamic supportNote: 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.
Stock analysis of Grasim Ltd.Price - ₹778.35 Dt. - 31-10-2020
As discussed earlier on the weekly chart that the stock is in the continuous downtrend from a few years but recently last month the stock broke the streak and started moving upward. looking at the historical daily chart we can conclude that stock can give buy and sell signal through 50DEMA and 21DEMA. But observing carefully if we follow the 50DEMA for buy and sell then we will end up with only 2-4% profit, but if we follow the approach of buying at 50DEMA and selling the stock when it breaks the 21DEMA line then we can roughly generate the profit of 8-10%.
In the current scenario, the stock took the support of 21DEMA and started moving up but the price will face resistance at 806.40, which can generate roughly only 2-3% profit. Buy signal will only activate if the stock sustains above the 806.40 level or the price takes the support of 50DEMA, whichever is first.
RSI is neutral whereas the MACD has given the sell signal.
Grasim Short Term Trading Analysisa. Zone: Strong Bear
b. Resistance 1: 784
c. Resistance 2: 789.55
d. Support 1: 767.25
e. Support 2: 764.50
NSE:GRASIM
CORRELATION COEFFICIENTUNDERSTANDING THE RELATION BETWEEN INDEX AND EQUITY USING INDICATOR "CORRELATION COEFFICIENT".
INTRADAY LEVELS for WEDNESDAY 21/10/2020ALL LEVELS ARE MENTIONED ON THE CHART. Watch my other charts to understand the simple price action used for all of the analyses. Never risk more than 3% of your capital on any trade.
Grasim | big volume | Weekly Analysis Buy setup
1st target = 834.50
2nd target = 925.95
lot size = 950
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Grasim - Breaking out of a long term down trendWith everything resolved on the Vodafone front in Supreme Court things could now start to look u for this company.
Ultratech cement, its other holding its also moving up.
Once it crosses the 200WEMA things could change for this company which has been a major underperformer all this time while its prime asset Ultratech cement has been moving up.
Long at CMP as long as 770 sustains. First target 833 and then 960.
SL 3-5% below purchase price depending on risk appetite.
I am bullish on this company as long as it sustains above its 200WEMA which is currently 769.
INTRADAY LEVELS for MONDAY 19/10/2020ALL LEVELS ARE MENTIONED ON THE CHART. Watch my other charts to understand the simple price action used for all of the analyses.
