GMR Infrastructure Limited Stock Forecast

A very strong day for GMR Infrastructure Limited stock price on Friday
(Updated on Apr 26, 2024)

GMRINFRA.BO Signals & Forecast

The GMR Infrastructure Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹83.15 and ₹81.87. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 20, 2024, and so far it has risen 21.59%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for GMR Infrastructure Limited stock

GMR Infrastructure Limited finds support from accumulated volume at ₹89.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹6.74 between high and low, or 7.87%. For the last week, the stock has had daily average volatility of 4.07%.

Since the GMR Infrastructure Limited has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: ₹86.45 (-4.78%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 22 days ago.)

Trading Expectations (GMRINFRA.BO) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect GMR Infrastructure Limited to open at ₹89.58, and during the day (based on 14 day Average True Range), to move between ₹87.79 and ₹93.79, which gives a possible trading interval of +/-₹3.00 (+/-3.30%) up or down from last closing price. If GMR Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 6.61% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at ₹90.87 (0.09%) than the support at ₹89.85 (1.04%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is GMR Infrastructure Limited stock A Buy?

Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period.

Current score: 2.430 Buy Candidate Unchanged

Predicted Opening Price for GMR Infrastructure Limited of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.