Technical Analysis

Gruh Finance (₹274.8): Sell

Yoganand D BL Research Bureau | Updated on July 23, 2019 Published on July 23, 2019

The stock of Gruh Finance tumbled almost 4 per cent with above average volume on Monday, breaching the 200-day moving average downwards.

Investors with a short-term perspective can sell the stock at current levels. Since encountering a key resistance at around ₹330 in late May this year, the stock has been in a short-term downtrend. While trending down, the stock had breached a key support at ₹300 in mid-June. Following a narrow sideways movement, the stock appears to have resumed the downtrend now. Moreover, the stock has closed below the immediate support level of ₹280.

The daily relative strength index has entered the bearish zone from the neutral region and the weekly RSI charts downwards in the neutral region. Besides, both the daily and the weekly price rate of change indicators feature in the negative territory implying selling interest.

The short-term outlook is bearish. The stock can continue to trend downwards and reach the price targets of ₹264 and ₹258 in the ensuing trading sessions. Traders can sell the stock with a stop-loss at ₹281.

(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)

c:set var="prUrl" value="https://premium.thehindubusinessline.com" />

Read further by subscribing to

The Hindu Businessline

What You'll Get

  • Web + Mobile

    Access exclusive content of the Hindu Businessline across desktops, tablet and mobile device.


  • Exclusive portfolio stories and investment advice

    Gain exclusive market insights from the Hindu Businessline's research desk.


  • Ad free experience

    Experience cleaner site with zero ads and faster load times.


  • Personalised dashboard

    Customize your preference and get a personalized recommendation of stories based on your intrest.

This article is closed for comments.
Please Email the Editor