GRASIM, Inside Candle + Support Breakdown FormationGRASIM broke mid term support line last week and for past 3 days it has been consolidating.
If this break 1540 (1530 for safe traders), then there is possibility of down move.
Along with support breakdown, this also has inside candle formation.
Should be avoided in case of gap down below 1535.
Thanks
Piyush Gupta
GRASIM trade ideas
Long Term short position in GRASIMEducational purpose only : Wave 5 has terminated here wave (1)= wave (5)
Truncation wave( 5 ),Wave ((5))= 0.681 * wave ((3)). Both level are co incidents in same price level .
.Motive cycle was completed.
Now started Correction in higher degree. ABC formation in coming weeks....
Try anyone with long term short position trade ... In grasim....
GRASIM INDUSTRIES MID-TERM SWING 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. Stoploss is taken low of resistance candle. NSE:GRASIM
Tringle pattern breakout in GRASIM . when to enter .As you can clearly see grasim gave a tringle pattern break out in daily chart . Now what further moves can be . According to me when these types of breakout comes market take a regression in upcoming candles . So on monday I will be waiting till 11:00 AM and than if market will be bearish I will not enter . But if market will be bullish i will take a swing position .
also check macd and rsi are strong .
And yu can see my targets on chart .
This is mine own analisys do yours as well its my opinion and should not be taken as tip.
[ INTRADAY ] GRASIM LONG BETrisk: Reward ratio is 1: 2
Rest as per Charts
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Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells “where” to act in “what direction. Unless it triggers, like, let’s say the candle doesn’t break the level which says “Buy/Sell if it breaks”, You should not buy/sell at all.
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I use shorthands for my trades.
“Positional” - means You can carry these positions and I do not see sharp volatility ahead.
“Intraday” -means You must close this position at any cost by the end of the day.
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Always follow a stop loss.
In the case of Intraday trades, it is mostly the “Low/High of the Candle”.
In the case of Positional trades, it is mostly the previous swings
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Fresh Breakout in Grasim Good Opportunity for BuyingNSE:GRASIM
As whole market took a good correction , Grasim took a correction of
16% from its ATH. it took a trending resistance while coming down and
Broke it recently as well as gave breakout to the consolidation of past few
Days and seems very bullish and shoes a great opportunity for buying.
Addition to this CNXINFRA(NIFTY INFRA) has also gave a sectoral breakout .
as Grasim being its good member money inflow would start in it as well.
We can consider an entry on retracement or above the high of previous candle
for the given targets in the chart.
HAPPY INVESTING!!!
NOTE - THIS TRADE IDEA IS ONLY FOR EDUCATIONAL PURPOSE
WE ARE/WOULD NOT BE RESPONSILE FOR ANY PROFIT OR LOSS