rdkriplani

Grasim - Breaking out of a long term down trend

NSE:GRASIM   GRASIM INDUSTRIES
With everything resolved on the Vodafone front in Supreme Court things could now start to look u for this company.
Ultratech cement, its other holding its also moving up.
Once it crosses the 200WEMA things could change for this company which has been a major underperformer all this time while its prime asset Ultratech cement has been moving up.

Long at CMP as long as 770 sustains. First target 833 and then 960.
SL 3-5% below purchase price depending on risk appetite.

I am bullish on this company as long as it sustains above its 200WEMA which is currently 769.

Penafian

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