GMR INFRA form multiyear breakout CUP pattern on Monthly Chart. This will be Good pic for Short term - Mid-term - long term Target.
AS Intelligent investor BUY when everyone is selling on fear and SELL when everyone BUY and make good profit then Y not take this opportunity to have a good pic in portfolio as lower risk and max profit.
BUY GMR INFRA cmp @ 41.45
Short term target 44-48, mid term target - 55-60, long term target 70-80
Stop loss 37
TECHNICAL INDICATORS . 1. Multiyear breakout at 39 level and stock currently conolidating around 41-44 level for upper side breakout. 2. CUP PATTREN FORMATION 3. MA ADX green indicate bullish trend 4. RSI(14) trading above 75 ...(between 75-100) bullish.when stock at uptrend 5. monthly chart breakout candle confirm.
** Please make own study and analysis and take call at own risk.
WISH YOU HAPPY TRADING. !!
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Comments.. Agree or Disagree About idea .. welcome !!
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SUPPORT $ RESISTANCE ON DAILY CHART.
S1 - 39.50 S2 - 40.75 S3 - 42.50
R1- 42.50 R2- 44.75 R3- 45.50
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considering high volatility in short term, stop loss can revised from 37 to 35.!
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GMR INFRA all set to ready for next big jump 44-48 ...what i am waiting is closing above 44.75 level resistance now!
@MpkRocky, GMR INFRA net profit improves this quarter. Technically strong Resistance above 43.50 support downside 42.50-41.50 trading range 41.50 to 43.50 few session . weekly chart shows doji candle current week that means next weekly candle will be bullish once close above 44 ..
SK_tron
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how is it looking now
champtrade111
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@SK_tron, one can buy at SIP method start with small qty from this level ...this is crucial support but market breath is NEGATIVE next 1 month due to imp events like election, budget, fed policy , so if stock fall bit from here max around 37 one can avg it... so buy with small qty is correct method at this point of time.
@SK_tron, matket will be volatile next 1 month ...so one thing is i can tell you BUYING with small qty from here will be profitable.. because max downside will be 37 if fall further you can avg it. upside target can be 42-44 -45 in next 1 month.