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gmaster29

GMRINFRA - Breakout or Fakeout? - Watch out 43.35 & 46.10 level

Long
GMR AIRPORTS INFRA (NSE:GMRINFRA)  
gmaster29 Updated   
NSE:GMRINFRA   GMR AIRPORTS INFRA
Trend Analysis Chart Patterns indianstocks india
2
4
trendanalysis chartpattern indianstocks india
GMRINFRA has been on a run for last 2 years, already up by 300%. It recently tried to break out the trend line, but it needs to be to close above the 43.35 levels for break out confirmation. It's also testing the key weekly and monthly levels in the charts, consolidated for a very long time forming a strong base. Keep an eye on the levels 46.10 levels, break out can be explosive. Any rejection from the levels 43.35 & 46.10 will make the stock further consolidate for some more time.
Comment:
Short term might hit 39.5 to 40 on the trend line to take support.
Comment:
Testing the key resistance levels at 46.10 for last one week. Local traders can't push the stock beyond these levels, needs institutional trader support for breakout.
Comment:
Pulled back to 43.35 to confirm breakout
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