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Grasim Technical Analysis #50: Sell | Target Rs 800 | Arijit Banerjee


Sell Range875 – 855
Target800 – 780
Duration20 – 25 Trading Sessions
Potential Return^7 – 9%
CMP#IdeaSell RangeTargetStopLoss*DurationPotential Return^
857.6SELL875 – 855800 – 78090020 – 25 Trading Sessions7 – 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.

Stock Data
Sectoral IndexNIFTY 500
52W High1008.85
52W Low689.1
Face Value2
Relative Performance_Grasim vs Nifty 500 Index


  • 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.
Grasim Weekly Chart
Grasim Weekly Chart


  • 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.
Grasim Daily Chart
Grasim Daily Chart


1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.


This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.


The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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