Technically, the stock broke the 11-week cup pattern with good volume. The stock is currently at its 9-month high. The 14-day RSI (74.92) is in the super bullish zone, indicating strength for the stock. The ADX trend indicator (34.98) indicates the strength of the stock. A rising MACD histogram also provides a positive signal. The OBV that remains at its highs indicates a strong buy signal. Overall, the title is technically very strong. This upward trend is expected to continue in the coming days.
The share price is up nearly 20% over the past three months, outperforming other stocks in the same sector. GMR Infra shares are currently trading at Rs 42.50. Momentum traders may consider this stock for future trading sessions.
(This article is from Dalal Street Investment Magazine, India’s No. 1 investment magazine. For the latest stock information and best stock recommendations Click here.
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