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GMR Infra buy for target of 30.5 SL26(Closing)

Discussion in 'Technical Analysis' started by verenmitter2001, Jul 17, 2014.

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  1. verenmitter2001

    verenmitter2001 Member

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    1.The stock is showing positive bias for the short term.
    2.The price has completed the minor falling leg at the major
    support of 25.65
    3. Now new pullback leg has started and price could head
    towards 30.5 of last minor falling leg
    from 34.90 to 25.65 levels.
    4.Key oscillators are bouncing from the oversold zone which is a
    positive sign in the near term.
    5. Buy at CMP with Sl of 26 on closing basis with target of 30.50
     

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    verenmitter2001, Jul 17, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    I don't agree a buy on this because I still see the lower top lower bottom in this chart
     
    shabbir, Jul 17, 2014
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  3. verenmitter2001

    verenmitter2001 Member

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    Adding another chart of GMR Infra for better understanding.
     

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    verenmitter2001, Jul 17, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    But still the view is all same. Lower top lower bottom :(
     
    shabbir, Jul 17, 2014
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