Stock analysis of Grasim Ltd.
Price - ₹778.35 Dt. - 31-10-2020
As discussed earlier on the weekly chart that the stock is in the continuous downtrend from a few years but recently last month the stock broke the streak and started moving upward. looking at the historical daily chart we can conclude that stock can give buy and sell signal through 50DEMA and 21DEMA. But observing carefully if we follow the 50DEMA for buy and sell then we will end up with only 2-4% profit, but if we follow the approach of buying at 50DEMA and selling the stock when it breaks the 21DEMA line then we can roughly generate the profit of 8-10%.
In the current scenario, the stock took the support of 21DEMA and started moving up but the price will face resistance at 806.40, which can generate roughly only 2-3% profit. Buy signal will only activate if the stock sustains above the 806.40 level or the price takes the support of 50DEMA, whichever is first.
RSI is neutral whereas the MACD has given the sell signal.
As discussed earlier on the weekly chart that the stock is in the continuous downtrend from a few years but recently last month the stock broke the streak and started moving upward. looking at the historical daily chart we can conclude that stock can give buy and sell signal through 50DEMA and 21DEMA. But observing carefully if we follow the 50DEMA for buy and sell then we will end up with only 2-4% profit, but if we follow the approach of buying at 50DEMA and selling the stock when it breaks the 21DEMA line then we can roughly generate the profit of 8-10%.
In the current scenario, the stock took the support of 21DEMA and started moving up but the price will face resistance at 806.40, which can generate roughly only 2-3% profit. Buy signal will only activate if the stock sustains above the 806.40 level or the price takes the support of 50DEMA, whichever is first.
RSI is neutral whereas the MACD has given the sell signal.
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