GMR Infra
GMR Infra consolidated in a range of 235-
252 levels last week.The 14-day RSI
indicates the stock might witness an
upside breakout of the range in the
coming sessions which will attract fresh
buyers. The stock is likely to face immediate
resistance at around 270 levels. If it is able
to sustain above that levels, we might see
it testing higher levels of 298-300 in a medium-term
scenario. The 50-day EMA level is placed at around 225
levels which is unlikely to be pierced in the coming sessions.
The 21-day EMA level is placed at around 240 levels while
the 8-day EMA level is placed at around 243 levels.
Investors are advised to accumulate the stock in the range
of 245-250 levels for a short term target of 298-300. All
long positions in the stock should be protected with a
stop loss placed below 225 levels on a closing basis.
Tata Steel
Tata Steel has been trading firm for the last few trading sessions, and
closed at all time high levels of 932 levels. Futures have seen rollover
of long positions close to 95 percent. Call options of 940, 960 strikes
have seen addition of open interest, indicates expectations of further
upward movement and in put options 920 and 900 strikes added open
interest indicating the expectations of a limited downside in the stock
price. The following strategy is recommended on Tata Steel