GRASIM INDUSTRIES | TECHNICAL ANALYSIS | @priceactiontrader13 | MARKET WALE

STOCK : GRASIM INDUSTRIES 

CMP : 1772.90 (04/07/2023)

ABOUT : Grasim Industries is an Indian conglomerate company that is part of the Aditya Birla Group. It was founded in 1947 and is headquartered in Mumbai, Maharashtra, India. Grasim Industries operates in various sectors, including viscose staple fiber (VSF), cement, chemicals, and textiles.

TECHNICAL ANALYSIS CANDLE STICK CHART VIEW (WEEKLY TIME FRAME)

(CLICK ON IMAGE FOR CANDLESTICK CHART VIEW)

OBSERVATION :

The stock has been in a consolidation for about a year now and has recently formed a SYMMETRICAL TRIANGLE pattern in the weekly time frame. The stock is very close to the resistance of the pattern and once the stock gets breakout of its pattern we can see some good up move coming weeks/months. Expecting (25-30%) upside rally. weekly candle closing above 1810 levels  will be show power to stock for upside momentum.

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How does SYMMETRICAL TRAINGLE PATTERN WORKS ?(CLICK HERE)

Note : It's important to note that the pattern is just one of many chart patterns used in technical analysis, and traders should always use multiple indicators and techniques to confirm their analysis before making trading decisions

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

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