|Sell Range||875 – 855|
|Target||800 – 780|
|Duration||20 – 25 Trading Sessions|
|Potential Return^||7 – 9%|
|CMP#||Idea||Sell Range||Target||StopLoss*||Duration||Potential Return^|
|857.6||SELL||875 – 855||800 – 780||900||20 – 25 Trading Sessions||7 – 9%|
# CMP on May 10, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 829.
^ The returns are calculated based on CMP#
Grasim Industries Limited manufactures and sells viscose staple fibre, fertilizers, textiles, insulators and cement in India and Internationally. The company provides stable bleaching powder under the Vikram, Shaktiman, and Lion brands for the use of water treatment and retails linen under Linen Club Fabrics brand. The Company conducts its cement business through its subsidiary, UltraTech Cement Limited.
|Sectoral Index||NIFTY 500|
TECHNICAL OBSERVATIONS (WEEKLY)
- In the Weekly chart, the long term trend is negative since October 2017. There is a steady resistance line which is moving downwards along with price fall.
- Presently, the stock price has placed near the Upper bound of a larger sideways range and based on historical price pattern we are expecting the price to fall off from here.
TECHNICAL OBSERVATIONS (DAILY)
- The stock price has slipped into sharp decline during previous week indicates the conclusion of the upward journey.
- A momentum indicator MACD (12,26) is showing a negative crossover which points out for a negative breath in the stock.