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The short-term outlook is bullish for Grasim Industries. The stock rose over 2 per cent on Tuesday, breaking above the key resistance levels of ₹2,530 and ₹2,550. This confirms a double-bottom pattern formation on the chart. The region between ₹2,545 and ₹2,530 will now act as strong support and limit the downside. Intermediate dips are likely to see fresh buyers coming into the market at lower levels.
Video Credit: Businessline
Grasim Industries share price can rise to ₹2,750-2,800 in the coming weeks. Buy Grasim Industries shares now at ₹2,571. Accumulate on dips at ₹2,555. Keep the stop-loss at ₹2,460 initially. Trail the stop-loss up to ₹2,610 as soon as the stock goes up to ₹2,660. Move the stop-loss further up to ₹2,690 when the share price touches ₹2,720. Exit the long positions at ₹2,770.
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