Grasim Industries stock has 10% upside potential

Business: Currently, the stock is showing signs of stability as it is approaching a crucial support level near its previous breakout range. This level is important because such breakout ranges often serve as solid support zones, acting as a price floor where buyers can step in. This support zone is further strengthened by two key technical indicators: the 100-day exponential moving average (DEMA) and the 0.50 percent Fib retracement level from the stock’s previous uptrend, which began at ₹2,163 and peaked at ₹2,866. The convergence of these indicators at the current price level highlights the importance of this support zone and suggests that it may hold. Moreover, technical indicators are starting to turn favorable. Specifically, the RSI on the hourly chart has formed a bullish divergence, a pattern that often signals a potential reversal or upward movement in price.