GRASIM INDS
- GRASIM INDS moving up from strong 50% fibonacci retracement support zone @ 3173 , close watch chart indicates as long as stock holds above 3173 it will be favored by bulls and further strength is expecting, if stock failed to move up and closes below 3173 then stock can see further weakness and stock will text its next support of 61.8% fibonacci retracement around 3040 as shown in graph no 1.
- Intraday close watch if stock starts trading below 3173, if stays below in day trading then intraday bears action is expecting.
- Suggested Reading - REC LTD moving up from strong support, close watch stock can see some up move from current levels.
- As per graph no 2. stock is holding is 100 days moving average at current levels, this indicates as long as stock holds above its 100 DMA it will be favored by bulls, and if starts trading below 100 DMA then bears may get active, and stock will give first sign of weakness. Close Watch.
- As per graph no 3 if stock moves up from current levels then on upper side will find fibonacci retracement resistance around 3352, 3393, 3465 And 3530.
- Intraday close watch if stock starts trading above 3352, if holds above the intraday bulls action is expecting in Grasim Inds.
- Suggested Reading - NEYVELI LIGNITE is moving in oversold zone as RSI around 30 level, can see some bounce back.
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