GMR Infrastructure

The Re one paid up share of GMR Infrastructure had reached a high of Rs 38.30 on June 10, 2014, when the markets had been rising under the influence of a general uptrend. However, the share, after hitting a high of Rs 38.30, deviated from the uptrend and entered a long-lasting downtrend that gradually pushed it down and reach a low of Rs 15.35 on December 16, 2014.

After having touched Rs 15.35 only briefly and for a day, the share recovered a little and settled at a slightly higher levels where it kept on fluctuating in a narrow range but directionless till Thursday of the last week. On Friday, the last trading day, however, it jumped to a high of Rs 19.65 before closing at Rs 19.25 and thereby got freed from the narrow and directionless trading range. Such a break-out from a trading range closer to its recent lowest price is a bullish break-out in technical terms and therefore, it is recommended for buying for short-term speculative trading gains. Since the company's financial performance is not attractive or highly profitable, long-term or even medium-term investment should be avoided in it.