Grasim Industries may test Rs 2825: Kunal Bothra

Kunal Bothra of LKP is of the view that Grasim Industries may rally by Rs 70-80 and test Rs 2825.

Kunal Bothra of LKP told CNBC-TV18, " Grasim Industries has just come out of a consolidation range for the last 2-3 days and has come out of a rectangle pattern on the hourly chart trading just around Rs 2750 odd levels. So there could be at least Rs 70-80 odd rally on Grasim, stoploss could be extremely tight at Rs 2710 with target at Rs 2825."

At 14:14 hrs Grasim Industries was quoting at Rs 2,742.30, up Rs 19.30, or 0.71 percent. It has touched an intraday high of Rs 2,761.50 and an intraday low of Rs 2,728.

The share touched its 52-week high Rs 3,159 and 52-week low Rs 2,121 on 20 May, 2013 and 04 September, 2013, respectively. Currently, it is trading 13.19 percent below its 52-week high and 29.29 percent above its 52-week low. Market capitalisation stands at Rs 25,181.47 crore.

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