Grasim Industries Limitedis the flagship company of the Aditya Birla group, it ranks amongst India’s largest private sector companies. On standalone basis, GIL’s core businesses comprise of viscose Staple fibre (VSF), caustic soda, speciality chemicals, rayon-grade wood pulp (RGWP) with plants at multiple locations. It also has certain other businesses such as fertiliser, textile, etc.
Technical View: – Grasim have perform very well in the past few sessions and it is above to form Cup and Handle structure, we can expect bullish pattern will continue to rise. Tape have formed Bullish candle on weekly and Daily chart which clearly indicate this trend will continue in coming week as well with the support 1580 to 1565 and immediate resistance will be 1610 & 1620.
RSI: Positive MACD:Positive
Levels: – BUY 1596
TGT3: 1660 with the stop loss 1561 (Coming week targets)