Stock of the day : Sell Feb Futs Grasim Industries Ltd For Target Rs. 1590 - Religare Broking
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Grasim Industries Ltd
* Most cement counters have been trading in a corrective phase and Grasim is trading in sync with the trend.
* The recent pullback is offering a fresh shorting opportunity as it failed to hold above the resistance zone of long term MA i.e. 200 EMA.
* The chart pattern also indicates the prevailing negative tone to continue.
* We thus recommend creating fresh shorts in the mentioned range.
Technical Chart : Daily
Sell Feb Futs Ltd CMP: 1624.70 Range: 1629-1634 SL: 1655 Target: 1590
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