GMRINFRA; 1H Chart; Parallel Channel Breakout probableThe stock after touching it highs of about 10Years, took a downward trajectory and a healthy correction occurred. The stock took support at 0.382 Fibonacci Retracement (You can check this by creating grid), henceforth continuing its journey in a parallel channel. This Channel Pattern consolidation is visible at 1H Charts. A breakout from this channel will lead the stock to further upmove. (Also you can construct a Ascending Triangle for the stock in the similar time frame and price range, which might show the last candle leading a breakout from the triangle with accompanied volumes.) I am personally bullish on this trade.
** I am not a SEBI Registered Advisor, Kindly consult your Financial Advisor and do your own analysis before taking a trade.**
