🔹 Price Action Grasim Industries is trading at ₹2,780, just below its supply zone (~₹2,860–₹2,870). The stock has been in a sideways consolidation for the last several months, holding above key trendline supports. 🔹 Technical View Support Levels: ₹2,707 / ₹2,611 / ₹2,440 Resistance Levels: ₹2,867 (major hurdle) Trend Setup: Price is consolidating near the top of the range after rebounding from the rising trendline. RSI: Recently broke out of its downward trendline, suggesting revival in momentum. Moving Averages: Price trades comfortably above the 50, 100, and 200 EMA, signaling strength in the long-term trend. 🔹 Strength & Weakness ✅ Strong support from long-term rising trendline and EMAs. ✅ RSI recovery supports the possibility of an upside breakout. ⚠️ Major resistance at ₹2,867 must be cleared for a sustained rally. 🔹 Outlook A weekly close above ₹2,867 could trigger a breakout towards higher levels. Failure to break resistance may extend consolidation within ₹2,700–₹2,867. Supports remain strong at ₹2,611–₹2,440, protecting the bullish structure. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.

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