SWING IDEA - GRASIM

9 févr.

Grasim Industries, a prominent player in the Indian conglomerate landscape, presents an intriguing prospect for swing traders, as evidenced by a convergence of technical factors signaling a potential upward rally.

Reasons are listed below :

• The repeated testing of the 2175 level underscores its significance as a critical support/resistance zone. With the recent breach accompanied by strong candle activity, the stage is set for a significant market movement.
  
• A bullish engulfing candle, spanning daily price action over the past two months, serves as a powerful signal of bullish momentum, marking a pivotal juncture for traders.
  
• The presence of the 50-day Exponential Moving Average (EMA) as a support level on the daily timeframe adds further credence to the bullish outlook.
  
• Elevated trading volumes serve as a corroborating factor, indicating heightened market participation and conviction behind the price movement.
  
• The recent breakout from a two-month consolidation phase signifies a significant shift in market dynamics. Such breakouts often herald the onset of a new trend or the resumption of an existing one, presenting lucrative opportunities for traders to capitalize on directional movements.
  
• The consistent formation of higher highs underscores the underlying strength of the uptrend. This pattern of ascending peaks reaffirms the prevailing bullish trajectory, offering traders confidence in the sustainability of the upward momentum.
  

Target - 2360 // 2575
Stoploss - Daily close below 2045

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@visionary.growth.insights

26 mars

Note

HOLD! // Uptrend is intact i.e constant higher highs and higher lows are being formed.

29 mars

Note

6.4% ++ from our buying price

24 avr.

Trade fermée: cible de profit atteinte

1st target achieved : 10%

3 mai

Note

Made a high of 13% ++

11 juin

Note

trend is intact, HOLD!

20 juin

Note

new all time high close, hold !

24 juin

Note

price action intact, hold!

26 juin

Note

very close to our 2nd target

27 juin

Trade fermée: cible de profit atteinte

2nd target achieved : 22%++

9 juil.

Note

made a high of 28%++