Time to Hold-out on Grasim Industries Ltd

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The shareholders of Grasim Industries Ltd has been losing out money as the shares have been falling consecutively for 5 trading days reporting a weekly low on the stock along with Nifty 50. The downward trend for the stock started when it announced its Q3 results posting a 9.4% decline in their profits to Rs.1039.91 crore. The share price of the company had a major drop when the company announced its results as it fell from Rs.787 to Rs.757.5 which added to the bearish market sentiment of the stock.
The following chart also indicates that the share price trend of the company is bearish or downward but the market sentiments have already started changing as the company’s share have turned bullish as of current day’s trading session. A change in the trend can be seen as the share price of the company’s stock has been rising as the market opened and also traders can set the support level as Rs.680-675 as the price of the stock rises when it reaches the support level.


The speculation of the stock price rise can be made with the help of support and resistance levels as it reduces the chance of losing out a chunk of profit when the price movement occurs. The following graph of bollinger bands also shows that the price of the stock is rising which is indicated by a bullish candlestick and also it has reached the lower band and can be seen rising. Eventhough the share price may rise, the bollinger band trend is depicting a downward trend which denotes a change in the future price movements.


It is a challenging job for traders to make strategies along with the price movements and market sentiment as the change in trend or major turn of events are yet to occur to the company's stock. So place your money with pre-planned strategies in occurence of expected events and also for some unexpected experience.

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