GMR Infrastructure: now or never

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


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


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