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

Stock Market calls by Religare Broking:

Grasim Industries Stock Price
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.