grasim industries ltd | breakout loading?

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๐Ÿ“Œ yellow counter trendline (ct) โ€“ A key resistance trendline on the weekly timeframe (wtf), which the stock is currently holding at. A breakout is pending .

๐Ÿ“Œ double bottom breakout โ€“ The stock has already rallied significantly after breaking out from a double bottom pattern. However, it's now in a crucial consolidation phase, needing a halt .

๐Ÿ“Œ price action roadmap โ€“ The current structure suggests either a consolidation or a minor dip, followed by a potential breakout above the yellow ct.

๐Ÿ“Œ red supply zone = major resistance โ€“ This area marks both the weekly timeframe all-time high (wtf ath) and multi-timeframe (mtf) resistance, making it a critical level to watch.

A clean breakout from here could be an "ice-break" move! ๐Ÿš€ Will it break and fly or face rejection? ๐Ÿค”

Penafian

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