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Technical Analysis: Grasim shows sign of upmove, Buy now

By Bhaveek Patel Leave a Comment

Grasim’s daily chart shows the trend in stock is up, hence trading in the direction of the trend we will be looking for buying opportunity in this stock. As we give closer look to the daily chart we see a bullish divergence forming on slow stochastic indicator.

Daily chart of GRASIM:

Grasim Daily Chart
Grasim Daily Chart

Traders can take long position on Grasim in range of 3170 – 3230 for target of 3500 in short term. While placing stop loss just below the low which stock has made recently, so stop loss must be below 3120 level. We have also noticed stock is consolidating around 100 EMA, which is considered as a support on daily chart. These are all the signs that the stock is going to bounce and resume its uptrend. Article written on 21 December 12.

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Category: Technical Analysis Tags: Daily Chart/ GRASIM/ Technical Analysis/ Uptrend Stocks

About Bhaveek Patel

Bhaveek 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.

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