Strong Fundamentals Bullish Outlook for Grasim Industries, Strategy: Buy on Dips

Grasim Industries Ltd. is well diversified company into different high growth sectors. When we study charts of the stock performance we see that there is lot of possible downside in this stock form current levels. Technically speaking there is a sell call generated in this stock at current levels of 2220 for targets of 1800 and then 1745. It is also advised to place the stop loss above the 2300 level. We see that there is high probability for this stock to touch the 1745 levels. The advice is based on technical analysis and we are not looking at the fundamentals of the company. This stock is currently in the down trend and taking the advantage of this down trend we will be looking for selling opportunities in this stock till it stays below the 2240 level. Entries in this stock can be timed with the help of slow stochastic and RSI indicators. This will generate trades with high success ratio, We also advice investors to sell their holding in this stock at current level and can re-enter this stock near the 1750 level for their long term target of 2600++.