GMR Infrastructure: new trend phase
Company profile: GMR Infrastructure is an infrastructure company with interests in airports, power and roads. The Company is developing a greenfield international airport at Hyderabad, and is also operating, managing and developing the Delhi airport. Additionally, it is involved in development and operation of power plants and road projects in India.
The recent trend breach should trigger more buyers into the market. The golden cross in the MA200/50 in combination with the trend breach is generally a reliable signal that a new trend is getting underway. Focus is on the peaks at 27.25 followed by the extension level at 34.50. Our positive stance remains in valid as long as 20.40 holds as new support.
- Primary trend: moderately positive
- Outlook: trend reversal, early stage uptrend
- Support: 20.40 / 17.60
- Resistance: 27.25 / 31.90 / 34.50*
Weekly chart GMR INfrastructure (NSE)
Category: India
