GMR Infra was in a perfect downtrend which got broken on the last day. So if the high of that candle is broken again on Monday then we can buy with a stop loss as per Bounce Theory.
The reason for not immediately buying is - It can be a fake out. In other technical terms, this pattern is also known as double bottom.
Now trading above 22.8 so it is in an interesting phase now. i have bought few. Lets see whats on the store.
Disclaimer:I am NOT SEBI registered. THE OPINION GIVEN OR THE CHARTS PRODUCED HERE ARE FOR MY PERSONAL REFERENCE ONLY AND THEY ARE NOT ANY BUY OR SELL RECOMMENDATIONS. Kindly consult your investment advisor and family members before investing.