1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

Grasim

Discussion in 'Technical Analysis' started by sanjay_sansanwal, Aug 3, 2012.

Tags:
  1. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Grasim look preety good, has formed W and breakout @ 2760 on 30-7-12 and now it is trying to break out @ 2928 high of feb 2012.
    I will buy it above 2929 with stop loss of 2850.
    Share ur views.
     
    sanjay_sansanwal, Aug 3, 2012
    Share #1
  2. sujan4bw

    sujan4bw Member

    Joined:
    Jun 12, 2012
    Messages:
    557
    Likes Received:
    18
    Hi sanjay,

    Its good pick. Looks like in overbought zone, may be you can buy in dips.

    Regards
    Sujan
     
    sujan4bw, Aug 3, 2012
    Share #2
  3. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,699
    Likes Received:
    1,940
    Sujan, I never recommend buying on dips. I suggest buy high sell higher.
     
    shabbir, Aug 3, 2012
    Share #3
  4. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    I know it is overbought but frankly I dont trust Rsi.
    Look the bollinger band, sma, break out and volume too.
    And if u talking about overbought only the look the rsi on 2-2-12 it is showing overbought and grasim was @ 2683 high of that day and again 28-2-12 still in overbought but made a high of 2880.
    That time also the situations are similar to this only.
    And I will buy only after breakout because that is my comfortable zone with my stoploss.
    By the ways thanks for alerting me.
    Keep updates.
     
    sanjay_sansanwal, Aug 3, 2012
    Share #4
  5. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Grasim breakout @ 2929 my price is 2931
     
    sanjay_sansanwal, Aug 6, 2012
    Share #5
  6. sujan4bw

    sujan4bw Member

    Joined:
    Jun 12, 2012
    Messages:
    557
    Likes Received:
    18
    Hi Shabbir,

    Today Grasim opened at 2919.9 made an high of 2949.

    Also it breached today's open and made an low of 2900 and finally closed at 2905.

    I believe 2886 - 2880 is strong support now. Correct me if Im wrong.

    Don's mistake me, its my observation.

    Regards
    Sujan
     
    sujan4bw, Aug 6, 2012
    Share #6
  7. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Today's closing is 2915 while previous closing is 2910 and it has so many support from 2895 to 2750.
    I have pick 2850 support for me.
    Major support is 2800 I believe.
     
    sanjay_sansanwal, Aug 6, 2012
    Share #7
  8. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,699
    Likes Received:
    1,940
    Major support is around 2600 but intermediate supports are at 2800
     
    shabbir, Aug 7, 2012
    Share #8
  9. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Grasim is rocking @ 2966
     
    sanjay_sansanwal, Aug 8, 2012
    Share #9
  10. sanjay_sansanwal

    sanjay_sansanwal Contributor

    Joined:
    Jun 17, 2012
    Messages:
    1,282
    Likes Received:
    140
    Occupation:
    Not Important
    Grasim booked 50% @ 3015 and revise my stoploss to my cost @ 2931
     
    sanjay_sansanwal, Aug 9, 2012
    Share #10