Daily Analysis on

GRASIM

Technical View (Daily Chart Analysis) CMP: ₹2813.80 Trend: The stock witnessed a strong rally in recent sessions, but today a heavy red candle indicated profit booking and supply pressure at higher levels. Indicators: RSI (14): 54 → Neutral zone. MACD: Still in the positive zone but momentum is slowing. Parabolic SAR: Flipped above price → Short-term weakness signal. Moving Averages: Price remains above 20-DMA, 50-DMA & 200-DMA → Long-term trend remains intact. Support Zones: ₹2760 – ₹2725 (immediate), major support at ₹2660. Resistance Zones: ₹2890 – ₹2950. Today’s fall was largely profit booking after a sharp upmove. Why the Stock Corrected Today? A strong supply zone around ₹2890–₹2900 triggered profit booking. Sector-wide weakness in cement & FMCG also dragged the stock. Traders locked in gains after recent rally. Future Outlook Short-term (1–2 months): Possible dip towards ₹2760 support before fresh bounce. Medium-term (6–12 months): Potential to test ₹3100–₹3200 on cement + paints growth. Long-term (2+ years): Diversified portfolio & infra push may take stock above ₹3500 levels.