GMR Airports Ltd – Bullish Bounce from Support ZoneThe chart of GMR Airports Ltd (Daily timeframe) is showcasing a well-respected ascending channel pattern, where price is currently bouncing off the lower support trendline, indicating a continuation of the bullish structure. This setup provides a compelling long opportunity if confirmed with price action.
• Uptrend Channel Structure Remains Intact
GMR Airports has been moving within a clearly defined uptrend channel with multiple touches at both resistance and support zones. The current bounce is happening near the support line, which has previously acted as a strong reversal point — suggesting that buyers are stepping in again.
• Twizzer Bottom Candlestick at Support
A key bullish candlestick pattern, the Twizzer Bottom, has formed right at the trendline support. This candlestick combo is known for reversal potential, especially at critical zones like this. The confluence of support + reversal pattern adds strong conviction to the bullish setup.
• EMA Support Alignment
The price also aligns closely with the 50-day EMA (blue line) and is above the 200-day EMA (red line) — a typical bullish sign in trend-following strategies. This alignment reinforces the uptrend bias and increases the odds of an upside continuation.
• Upside Targets Clearly Marked
- The initial target is placed at ₹93+, which corresponds to the last swing high.
- Target 2 is marked at ₹97+, aligning with the 52-week high.
- If price breaks through the upper resistance channel with momentum, the final target may extend higher, potentially entering price discovery mode.
• Risk Management is Well Defined
- The stop-loss is marked below ₹85, just under the previous swing low and trendline support.
- A close below this level will indicate a long setup failure, and the structure will need re-evaluation.
- This gives a favorable risk-reward ratio for swing traders entering at current levels.
• Conclusion – Watch for Momentum Confirmation
If follow-through buying occurs in the coming sessions, this could lead to a sharp upward move back toward the upper channel resistance. Traders should wait for volume expansion and strong candle closure above ₹88 for further confirmation. The overall bias remains bullish until the lower channel is broken convincingly.
