Autoaxles : Volumes Up

There is a possibility of a break out in Autoaxles India for the following reasons

• The stock is back to its historical average trendline.
• There is a fibonacci support at this level of Rs. 570. This is a strong 50% support point for the stock
  
• The volumes on this stock are up as seen in the accumulation distribution chart
• MACD is still in the positive zone of the rally and RSI is still not showing the stock as expensive

The nest support for the stock would be at Rs. 530, downside of 7% and there is an upside resistance at Rs.610, an upside of 3%. Enter with caution.

Grasim - Resistance Level

Grasim has entered one support point at 2164.

• MACD is still on the negative zone and the column bars are on the rise
• RSI is on an all time LOW
• The accumulation distribution chart is showing some signs of revival.
  

So I would wait for this stock for MACD to show some signs of resistance. Ideal entry point would be at around 2220 level and start accumulating the stock. However, the next level to watch would be 2330 and see if it can break that level.