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GRASIM INDUSTRIES LTD
Long

Grasim Industries will go UPWARDS due to Positive Divergence

By peace_lover
Updated

  1. POSITIVE DIVERGENCE -

    A hidden bullish divergence or positive divergence has formed on the daily chart indicating strong upwards movement coming soon

  2. REVERSAL FROM 200D & 50D SMA ("DAILY" CHART) -

    Price has also recently tested two sma including testing one 50D twice indicating strong support for move upwards

  3. VOLUME SURGE -

    Volume has surged on the daily chart on the day of writing this article

  4. REVERSAL FROM 200D & 50D SMA ("WEEKLY" CHART) -

    Price has also consolidated around these two sma from JAN to MAR (2 months) before moving upwards again indicating very strong support level formed

Trade active
Booked half profits as price has hit a very strong support-resistance zone and may reverse from there
Trade closed: target reached
Price has gone a long way upward since the prediction of bullish divergence was made, enough profits & Supertrend indicator (factor - 2) has reversed hence exit the positions
DivergenceMoving AveragessupportTrend AnalysisVolume
peace_lover
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