GRASIM trade ideas
Grasim- Potential Cup & Handle PatternGrasim is forming what appears to be a cup and handle pattern. Buy in anticipation of completion of this pattern.
Buy: Grasim
CMP: 1423
Target 1: 1590
Target 2: 1650
Stop Loss: 1365
Flag Pattern formation Prices fomring a flag pattern before making a new ATH .....
Lets see how the pattern unfolds
Grasim levels for 24/05/2021NSE:GRASIM
from 10th may to 24th may its a good pull back.
Daily RSI is at 46 which is generally a support range during pullbacks.
forming double bottom in 1hr chart with RSI bullish divergence.
after 1 30 pm It consolidated in a small range near the pullback down trendline and last 15min showed buying with huge volume breaking the range upside. A gap up open can confirm the trendline breakout but Do not go long immediately; It can retest the trendline also.
1383-1385 is a strong resistance region .
a 15min close above this level will initiate my long entry and i will check whether this level is getting sustained on 1hr closing basis also.
Then i will be interested to hold this stock for some more days.
This is my personal view on the stock. Trade at your own risk and knowledge.
Grasim levels for tomorrowNSE:GRASIM
Froming a dowble bottom.
a 5min close above the marked levels will confirm the pattern. Book partial profits at important levels and trail SL.
Bullish Div at 5min chart
Negative Divergence in Daily chart of GrasimGrasim showing weakness in momentum after a long run up to 1450 levels, currently trading at 1367.
Loss of momentum is evident in RSI divergence as pointed out on the chart.
One can look to short this stock with SL above 1450 on closing basis.
Note: Result is expected to be announced on Monday for this stock, so keep you risk under control.
Options trading plan:
One can Sell 1450 strike call @ around 14 And Buy 1500 strike call @ around 7.5
Lot size: 475
Margin required: (~) Rs 46000
Max reward: Rs 3087
Max Risk: Rs 20660 (Defined risk strategy)
Do you own analysis before action upon this idea. All the best.
GRASIM DOUBLE TOP SELL SET UPHELLO FRIEND
HERE IS DOUBLE TOP SELL SET UP IN GRASIM INDUSTRIES BELOW 1400 SPOT LEVEL WITH SL OF 1480 FOR THE TGT OF 1210.
HAPPY TRADING.
#Grasim cash : Looks good sell around 1425-1430#Grasim cash
14.05.2021
Sell around 1425-1430
stoploss 1445
Target 1395-1400
Risk free below 1395 for 1376/1352
Cmp 1410
Grasim Double Top - Risky ViewGrasim : (Risky view)
Possibility (Positional )
Double Top Formation
Can fall
Weak below 1385 with a SL 1480
Long side GrasimSwing trade Holdings
Entry : 1410
SL : 1398-1399
target : after break out needed to decide probably around 1500 -1550 - 1600
actually it did break the HH by crossing all-time high of 1471 but didn't sustain now came back near entry level !!!!!
this level is a support region and also is a EMA 30 min support which is a strong resistance
If anyone want to enter can enter with your own risk and strict stoploss at 1398 -1399
Grasim : New ATH soon? Grasim, BO don already, retest done. Now ready for new ATH with SL 1400
For Educational purpose
GRASIM Looks Good !!!GRASIM : cmp : 1414.55
Closed above the resistance zone of 1390-1400.
Good support near 1360-1380.
So good to grab on dips for the TGT of 1440/1468
Sl 1388 clbs
Disclaimer: Ideas for learning Only.
Learn Regularly. Not occasionally.
Long Grasim Long Grasim above 1423 SL 1410 TGT 1455-1470 . Stock at resistance level BO & in uptrend. This is for your educational ideas only
