Swing trade for tomorrow
The basic Principle of the market is that no trend is permanent .
Trend comes and go but markets always gives hints for the reversal.
so in GRASIM I have observed that it is falling for past few week but in the last weak the stock is consolidating in a range
secondly if notice in the smaller time frame of 15 minutes the price is making higher lows which also represent the strong buyers then the sellers
thirdly in this price range the volume in the stock is increased which might also be the indicators entry of new investors
lastly the buyers tried to break the resistance earlier but sellers did not let it sustain but now the buyers has again overcome the sellers and break the resistance again which shows that sellers are not able to sustain the past downtrend so we can expect sellers to leave and cover up above 1620
so finally the point we can buy above 1619 with stop loss of 1604 and for the targets i would prefers trailing stoploss instead of selling early
Trend comes and go but markets always gives hints for the reversal.
so in GRASIM I have observed that it is falling for past few week but in the last weak the stock is consolidating in a range
secondly if notice in the smaller time frame of 15 minutes the price is making higher lows which also represent the strong buyers then the sellers
thirdly in this price range the volume in the stock is increased which might also be the indicators entry of new investors
lastly the buyers tried to break the resistance earlier but sellers did not let it sustain but now the buyers has again overcome the sellers and break the resistance again which shows that sellers are not able to sustain the past downtrend so we can expect sellers to leave and cover up above 1620
so finally the point we can buy above 1619 with stop loss of 1604 and for the targets i would prefers trailing stoploss instead of selling early
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