GMR Airports Infrastructure Limited (GMRINFRA) Stock - Complete Technical Analysis - Nov 28, 2024

GMRINFRA Stock Analysis: Technical Indicators, Patterns, and Price Levels to Watch in Nov 2024

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) stock is currently trading at 82.49, reflecting a 20.49% drop from its 52-week high of 103.75, but 40.41% above its low of 58.75. The past few sessions have seen some fluctuation, with a recent high of 82.94 on Nov 28, followed by a slight decline. Looking at the technical indicators, the stock shows strength with an ADX of 31.81, indicating an existing trend. The RSI at 53.47 suggests a balanced market, while the Stochastic RSI at 100 shows potential overbought conditions.

Moving averages indicate some support in the short-term, with the 10-day and 20-day EMAs at 80.17 and 80.42. The longer-term EMAs, like the 50-day and 200-day, at 83.85 and 84.45, respectively, indicate a possible strong support if the price drops further. The stock has formed a "Three White Soldiers" pattern recently, a bullish continuation pattern, signaling potential upward movement.

The key resistance level appears to be around 83.45, with potential upside toward 90-95 if this resistance is broken. On the downside, support lies near 82, with the possibility of further testing the lower support levels if the stock fails to hold its ground. The ATR suggests there will be continued volatility, so traders need to watch for a decisive breakout above or below these levels to gauge the next directional move.