Grasim Industries, Granules India shares: Strategy, outlook and target prices

Shares of Grasim Industries Ltd and Granules India Ltd are likely to witness positive momentum, backed by strong technical setups and improving business performance, according to Ravi Singh, Chief Research Officer at Mastertrust.

Grasim Industries: Key support at Rs 2,980–3,000

Singh said, "Grasim Industries has shown a strong move on the charts after finally crossing the important Rs 2,980–3,000 zone, which had been acting as a resistance area for quite some time. The breakout came with strong price action and reflects improving buying interest in the stock."

He added that momentum indicators continue to support the uptrend, although the Relative Strength Index (RSI) moving above 70 suggests the stock has entered a strong momentum zone, making some near-term consolidation possible.

Singh also highlighted that recent sentiment has been aided by encouraging quarterly earnings. The company reported healthy profit growth, driven by better performance across its cement, chemicals, financial services and paints businesses.

From a technical perspective, he said the Rs 2,980–3,000 range will now act as an important support zone.

"As long as the stock sustains above this level, the next upside targets could be around ₹3,300," Singh added.

Granules India: Trend remains positive above Rs 718

On Granules India, Singh said, "Granules India continues to remain one of the stronger names on the chart, with the stock sustaining its breakout above the important Rs 718 level, which had earlier acted as a major resistance zone."

The stock is currently trading around Rs 766, and the overall price structure indicates buyers remain in control, Singh noted.

He added that momentum indicators are supportive, though RSI near 74 signals that the stock is in a strong momentum zone and may witness some short-term cooling off after the recent sharp rally.

The recent upmove has also been backed by the company's latest quarterly performance. Granules India reported revenue of nearly Rs 1,180 crore, while net profit stood around Rs 150 crore, supported by better margins and healthy operational growth.

According to Singh, the Rs 718–720 range will now act as a key support area for the stock.

"As long as the stock stays above this level, the overall trend remains positive with upside potential towards Rs 900, while Rs 1,000 could emerge as the next medium-term target," he added.