Another name i am interested in. Recent buy of mine along with Sterlite Tech (Rs. 16.70)
Promoter buying over the last month..
Made a higher high..stock has broken out already, today it made a higher high and tom could be a big day for the same.
Price action formed a bullish long setup developed on chart with the confluence of cypher pattern and channel. Please refer chart for details.
Stop can be placed below the channel and target can be extended till the top of the channel.
Trade with care
In the last one year NSE:GMRINFRA has reversed when ever it reaches the 200 day MA. (All has been highlighted in the chart)
It has once again reversed from its 200 day MA.
Go long above - 17.80
T1 - 18.60
T2 - 19.50
SL - 16.60
GMR INFRA has seen higher volumes today with a 10% positive move today. MACD may be turning and ready to give buy signal. Break of resistance @ 20 Rs will target higher levels of 23-25 in the coming weeks.