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Grasim Industries Ltd 

BUY 27 OCT 2900 CALL SELL 27 OCT 3000 CALL Entry Range 32 – 37 Target 75 Stop Loss 20

Rationale

• GRASIM is showing signs of a potential bullish reversal after retracing from its recent highs, with the stock currently testing a prolonged rising trendline on the weekly chart. This long-term support zone remains crucial for sustaining the broader bullish structure.

• The stock has witnessed a bounce from its 100-WEMA zone, which aligns with the rising trendline and strengthens the significance of this support confluence. A sustained hold above this zone could trigger renewed buying interest.

• The weekly RSI is hovering above the 40 mark, indicating stability in recent price action even after weaker momentum. The MACD showed a fading bearish histogram, suggesting bullish reversal momentum; support confirmation could signal an early recovery opportunity.

• A decisive rebound from the current support zone could pave the way towards the 3,000-3,050 zone in the coming weeks. However, a sustained breakdown below the trendline and 100-WEMA would weaken the bullish reversal setup.

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