GMR Infrastructure: now or never

| July 16, 2014 | India
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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.

To be fair, the rally (Jan-June) from 18 to 38  needed to be corrected at some point. Even though deep and rather fierce, buyers are not defeated just yet. Strong support has been found in the area around 25. Basing must set in in order to keep the underlying uptrend valid.

If you haven’t been hit by the recent down move, this stock is now quite easy to trade effectively: basing must occur so down side risk is limited to about 25.00/24.85. Any lower and things become too difficult. “Now or never” for GMR Infra….

  • Primary trend: positive
  • Outlook: critical support reached, aggressive buying only
  • Support: 25.00 / 24.85 / 21.08 / 16.90-
  • Resistance:  31.68 / 34.55 / 38.35+

Weekly chart GMR Infrastructure

gmrinfra_16jul2014

13 May 2014

The road towards 34.52 and 51.10 lies open after clearing the major pivots around 25. Risks of a sudden reversal lower are rather limited. Minor dips are allowed up to 25.20 without altering the new primary uptrend. Buy and/or on dips.

  • Primary trend: positive
  • Outlook: positive, buy (dips)
  • Support: 25.20 / 23.30 / 22.30-
  • Resistance:  34.52* / 51.10+

Weekly chart GMR Infrastructure

gmr.infra_13may2014

22 April 2013

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)

gmrinfra_22apr2013

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Category: India