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++.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
Dear sir
The recommendation posted on this site for niftyfuture is not implying to CMP. moreover grasim F is also above 3000CMP.may i know your latest update as nifty is also trading at 5590CMP.
REGARDS
AJAY KUMAR