GRASIM CMP 2856 ENTRY PRICE 2850 TARGET 2872, SL 2844. Option writers can Sell OTM 2800 PE accordingly.
GRASIM CMP 2856 ENTRY PRICE 2850 TARGET 2872, SL 2844.
Option writers can Sell OTM 2800 PE accordingly.
The stock has made double top at around Rs.2890 and retraced to its swing low of Rs.2847 but failed to break the level and reversed again. Considering this support zone as a crucial, recommending to buy the stock for day-trading at around Rs.2850 with a risk below 2844 and expecting an intraday target near to Rs.2872.
Grasim share price has delivered a decisive breakout on the weekly chart, surpassing multiple resistance zones around ₹2,865 with a strong bullish candle. The stock is trading firmly above its key moving averages (20, 50, 100, and 200-day SMAs), reinforcing a positive bias across timeframes, according to Axis Securities.
The stock has seen a notable rise in open interest, reaching 73,571 contracts, alongside a trading volume of 33,793 contracts, indicating increased market activity. The stock has outperformed its sector and demonstrated consistent gains, with significant investor participation reflected in a substantial increase in delivery volume.
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