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GMR Infra Technical Analysis #81: Buy | Target Rs 17.5 | Arijit Banerjee

OUR RECOMMENDATION

CMP#14.8
IdeaBUY
Buy Range14.7 – 14.9
Target17.5 – 18.25
StopLoss*14
Duration45 – 50 Trading Sessions
Potential Return^18 – 23%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
14.8BUY14.7 – 14.917.5 – 18.251445 – 50 Trading Sessions18 – 23%

# CMP on Sep 03, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 16.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

Founded in 1996, GMR Infra engages in Engineering and Construction activites in India. The company operates through Airports, Power, Roads and other segments. The company also engages in coal mining and exploration activities, EPC mining for infrastructure sector, generation and sale of power etc.

Stock Data
NSE CodeGMRINFRA
Sectoral IndexNifty Infra
52W High21.35
52W Low12.95
Face Value1
Relative Performance_GMR Infra vs Nifty Infra Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • As we see in the Weekly chart, there is a steady support baseline which is moving upwards along with price rise. Current price is just above the support baseline.
  • We expect the stock to remain in a rising trajectory and extend the up move towards 17.5-18.25 in coming months.
GMR Infra Weekly Chart
GMR Infra Weekly Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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