GRASIM has accomplished the impulsive structure at 1816.25 and started forming correction. In our previous idea, we traded the 5th sudden wave and made a good profit.
Click Here – Will GRASIM Reach The Final Target?
In the aftermath of wave (5), we have witnessed a sharp decline in the price. It took five trading sessions to correct seven bullish sessions. Generally, it is called the transformation of a bullish trend into a bearish one.
Price has broken down the corrective base channel. If the price sustains below the parallel channel, traders can trade for the following targets:
As history shows, the channel has worked as a good support level. There is also a possibility of price reversal. In this case, traders can expect the following targets: +
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