GRASIM 06-11-2023 LONG
GRASIM INDUSTRIES LTD is an interesting chart for following reasons
1. Weekly chart : Long ascending Triangle breakout and its retest during last week and price taking support at trend line at 1824-1830 zone
2. 20 week SMA support at 1840 levels
3. Daily ABCD pattern under formation
4. Daily - Stock Making higher highs for last 3 days,
5. Outperforming Sectoral index for 1 week and 3 months
6. Monthly RSI above 60 Weekly RSI Above 50 and daily RSI rising
Can be a good Risk reward with resistance at 1959- 1990 - 2030 zones
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. Weekly chart : Long ascending Triangle breakout and its retest during last week and price taking support at trend line at 1824-1830 zone
2. 20 week SMA support at 1840 levels
3. Daily ABCD pattern under formation
4. Daily - Stock Making higher highs for last 3 days,
5. Outperforming Sectoral index for 1 week and 3 months
6. Monthly RSI above 60 Weekly RSI Above 50 and daily RSI rising
Can be a good Risk reward with resistance at 1959- 1990 - 2030 zones
Disclaimer: I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
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