Tech Stars - PVR and Grasim Industries By Religare Broking
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PVR Limited
TECHNICAL RATIONALE – PVR has been witnessing recovery since May 2020 however the intermediate swings were sharp. It has again reached closer to the resistance zone of previous swing high after consolidating in a narrow range. Indications are in the favor of a fresh breakout in near future. We thus advise creating fresh longs in the given range.
Buy PVR Limited @ 1475-1485 CMP 1499.40 TGT 1610 SL 1400
Grasim Industries Limited
TECHNICAL RATIONALE – We’re seeing profit taking across the board and cement stocks are no different. Within the pack, Grasim has formed a fresh short pivot, after retesting the resistance zone around 1040 levels. The candlestick pattern combined with overbought signals from oscillators are adding to the confirmation. Traders can use any uptick to go short in the mentioned zone.
SELL FUTS Grasim Industries Ltd @ 1000-1010 CMP 992 TGT 950 SL 1030
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