GMRINFRA Testing Key Support – Potential Reversal Ahead!
The stock is testing its ascending support trendline, which has held strong multiple times, indicating a potential reversal.
The RSI is around 50, indicating neutral momentum with potential for a bounce.
The stock is currently trading near its 100 EMA, which aligns with the support trendline, adding strength to this support level.
Immediate support is at the trendline around ₹80-₹81, with resistance at ₹92, where the stock has faced selling pressure before.
The recent pullback saw a decrease in volume, suggesting it might be a healthy correction within an uptrend.
Watch for a bounce from the ₹80-₹81 support zone. A move above ₹92 with strong volume could signal a bullish continuation. If the support fails, reassess for further downside.
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Join our community in telegram for real time updates --- telegram.me/marketiik
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A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
Telegram- telegram.me/marketiik
A simple trader, distancing from the fake crowd. Simplifying complexity, I prioritize genuine insights over trends.
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