Grasim Ind. Ltd: (CMP Rs 2610.20)
We recommend going short in this counter.
Technical Outlook:-
The share price movement of Grasim has registered a break down from its Head & shoulder formation. This is a bearish formation
and measuring implications suggest that the stock price could decline to the levels of Rs 2100 / Rs 2050 / Rs 2000 in the near future.
The momentum indicators are placed firmly below their respective trigger lines and are in bearish mode.
Suggested Trading Strategy:-
Traders can look to sell at current levels with a stop placed above Rs 2216.60 for the above mentioned targets.
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