Grasim
Industries Ltd on a daily chart stock price is making higher high and higher
low pattern with increase in volumes, indicate positive outlook for the stock
price. Technically on daily chart stock price at Rs. 843 has touch the downward
sloping trend line any trade or closed above the same stock price can rally
towards previous high swing. Momentum Oscillator MACD has also given positive
crossover, which add more bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate above Rs. 848 for the target of Rs. 1036 levels, with Rs. 800
stop loss on closing basis.
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