Buy Grasim for target of Rs 1,080, stop loss of Rs 1,000: Religare Broking

Top technical calls by Religare Broking: 

Grasim Industries 

Rec: BUY 

Last Close: Rs 1,036.70

Initiation range: Rs 1,025-1035

Target: Rs 1,080

Stop loss: Rs 1,000

In line with correction in cement space, GRASIM also retraced from its record high i.e. 1300 to 990 in last seven months. However, its pace of fall was gradual in comparison to the others and it also strongly upheld the support zone of 100 EMA on the weekly chart. It’s completed the formation of fresh buying pivot after spending nearly a month around that zone.

We advise traders not to miss this buying opportunity and accumulate in the given initiation range. 

Shriram Transport Finance