GMR Infra had broken its long range in Sep 2021 and has taken support at 34 which was its 9 years upper range, it means resistance of 9 year became support. Now target seems to be 50 in case it breaks 40 levels on weekly closing basis.
#NSE:GMRINFRA trading bullish with our breaking support and zoomed today with 300% returns more than a lac bagged with this script today !!
Chart attached for your reference.
Happy to see the charts performing after many days, wish to see many profit screens !!
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** Trade Plan **
Setup :> Here there is a trendline breakout . So be a Positional Trader in the stock.
Entry :> Should be done on the retest of the trendline
Exit :> Possibly the nearest high shown in the chart.
Stoploss :> The trendline here might work as a support. Stoploss should be kept just below the trendline
The 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...
Round Bottom Breakout possible!
Buy above 37.25
T1 of 43 (short term)
T2 of 53 (long term)
SL of 33 or asp per your risk appetite
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together .
>Good consolidation after breaking out of a inverse head and shoulder pattern on daily as well as weekly chart
>Breakout with huge volume
>A long position can be initiated @32 with a stoploss of at 30
>Favorable risk reward ration of above 2