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GRASIM: Elliott Wave-Based Swing Setup

Free nse grasim chart calls

Free nse grasim chart calls

GRASIM has accomplished wave 5 of wave (c), and we may expect an upward move for the following targets: 1380 – 1420 – 1447. BUT, you should not buy this stock before reading this complete research report of GRASIM.

GRASIM has made a low of 1276 at wave C, and the price started forming a traditional cup and handle pattern. Wave C has reached 161% Fibonacci extension of wave A at 1276.

If the price breaks out at 1353, traders can trade for the following targets: 1380 – 1420 – 1447. Breakdown of the parallel channel will make this trade invalid.

According to wave theory, there is no way to change a trend until a lower-degree fourth wave breaks out. The price will be bullish if it breaks out of sub-wave 4 at 1456.

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5 Comments

  1. Sir, I am following you for more than 5 months. your all charts are informative and accurate. Keep sharing your excellent work.

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