GMR Airports Infrastructure Limited (GMRINFRA) Stock - Complete Technical Analysis - Sep 04, 2024

GMR Airports Infrastructure Stock Analysis: Key Support

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. GMR Airports Infrastructure Limited (GMRINFRA) is currently trading at 93.4. The stock's technical indicators reveal a mixed sentiment. The Relative Strength Index (RSI) stands at 44.07, suggesting that the stock is in a neutral zone, neither overbought nor oversold. The MACD is negative, indicating a bearish trend, while the Awesome Oscillator and Commodity Channel Index (CCI) further support a bearish outlook.

The Average Directional Index (ADX) is low at 12.03, reflecting weak trend strength. The Stochastic Oscillator and Stochastic RSI both indicate that the stock might be oversold, with readings suggesting potential upward momentum in the near term.

Support levels are indicated by the Classic Pivot S1 at 88.88 and Camarilla Pivot S1 at 93.34. Resistance levels are suggested by the Classic Pivot R1 at 101.31 and Camarilla Pivot R1 at 95.62. The Spinning Top candlestick pattern observed today signifies market indecision, with the stock closing slightly below its opening price.

Moving averages are clustered around 94.5 to 96.0, with the 200-period EMA at 83.87 acting as a significant long-term support level. The Hull Moving Average and various pivot points suggest that the stock may test support around 93.35 to 95.7 before making a significant move.

In summary, GMRINFRA is currently in a consolidation phase, with key support and resistance levels to watch. Traders should be cautious and look for confirmation from price action and volume before making trading decisions.