Grasim Industries, a prominent player in the Indian conglomerate landscape, presents an intriguing prospect for swing traders, as evidenced by a convergence of technical factors signaling a potential upward rally.
Reasons are listed below :
Target - 2360 // 2575
Stoploss - Daily close below 2045
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- The repeated testing of the 2175 level underscores its significance as a critical support/resistance zone. With the recent breach accompanied by strong candle activity, the stage is set for a significant market movement.
- A bullish engulfing candle, spanning daily price action over the past two months, serves as a powerful signal of bullish momentum, marking a pivotal juncture for traders.
- The presence of the 50-day Exponential Moving Average (EMA) as a support level on the daily timeframe adds further credence to the bullish outlook.
- Elevated trading volumes serve as a corroborating factor, indicating heightened market participation and conviction behind the price movement.
- The recent breakout from a two-month consolidation phase signifies a significant shift in market dynamics. Such breakouts often herald the onset of a new trend or the resumption of an existing one, presenting lucrative opportunities for traders to capitalize on directional movements.
- The consistent formation of higher highs underscores the underlying strength of the uptrend. This pattern of ascending peaks reaffirms the prevailing bullish trajectory, offering traders confidence in the sustainability of the upward momentum.
Target - 2360 // 2575
Stoploss - Daily close below 2045
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Comment:
HOLD! // Uptrend is intact i.e constant higher highs and higher lows are being formed.
Comment:
6.4% ++ from our buying price
Trade closed: target reached:
1st target achieved : 10%
Comment:
Made a high of 13% ++
