GRASIM
GrasimIt breakout from the ascending Triangle ,
Last day looks like Retracement ,
Its might check its support at 0.786 FR and bounce or It can bounce Directly .
Better to take a Long position once you get the confirmation candle From Fibonacci Retracement .
Looks Good in Volumes Above 100 MA .
SAFE Entry 602 Target-614
Don't Waste your hard earned money......
possible prz zonebullish cypher,bullish bat if we consider both the structure .Prz zone is near
price is in channel,broke the trendline .
GRASIM: Reversal from strong support zoneGrasim Industries Seems to have reversed from strong support zone. Its certainly worth entering the LONG ride!
Long Term - 1264 in 2 monthsWait for CCI34 on Weekly to cross >100 for safe trade.
1093 and 1134 next target
Grasim Industries - Technical Analysis - 8/12/2016Nothing can defy gravity forever in markets. Grasim industries stock's nonstop run from 3200 to 5400 has finally come to an end. Almost 1000 points, which took around 3 months to gain have been undone in just 3 days. There is a lesson for traders that, no matter how good things look, you need to keep your risk in check. Now let's work on levels which can give us good trading opportunities in days /weeks / months ahead.
A sharp bounce after a huge drop has come precisely from the first line of support area of 4200 - 4400. There is possibility that the stock can stabilize here and remain sideways or head north again. But we are more interested in the next best support level of 3800. Because when such high beta stock is on run, few hundred points are nothing. That's the reason we would like to lean against better levels so that in case of emergency we have an exit ;)
So casting a wide net between 3800 and 3500 during the drop may provide good buy side trading opportunities.
Besides, our trade set up in ICICI Bank has been working good and we are jobbing that 240 level from buy side.
$GRASIM building further short (see prior run up and selloff)$GRASIM building further short (see prior run up and selloff)
$GRASIM potential long term TOP$GRASIM potential long term TOP as major channel resis reached with parabolic rally of 45% similar to past 2 instances in 2013 and 2014
