1) Completion of elliot wave
2) Strong Volume near last wave
3) Break of trendline
4) Company performance has been strong with good order inflow -- co got derated due to lag in revenue booking and increase in cost of capital
There seems to be a potential Bearish Bat formation on NSE:GMRINFRA on the daily charts.
A short can be initiated at 13.88
Target 1: 12.48
Target 2; 11.65
Please Note: The lot size for futures of this stock is 45,000 units.
Disclaimer: The chart is only for educational purposes and in no way a recommendation to trade. Please conduct your own...