The stock is trading at the support; near the support the stock has formed multiple Doji indicating a pause in trend. Market has been correcting from 526 levels.

Currently the stock is trading near the 200 EMA. The Stock has been respecting the 200 EMA, a closing below 200 EMA for 2 consecutive days can be considered a change in trend. The only condition would be RSI, RSI trading below 23 would be a negative sign for the short side. We will advise not to go short if RSI is trading below 23.

We are expecting the stock to support at this level. The stock closing above 475 would be an opportunity to enter a long position in the security.

Advice : Buy only if the Security closes above 475

GRAINGER

Feb 15 2022