Above Rs 60, GMR Infra to rise by 10%: Sharma

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Above Rs 60, GMR Infra to rise by 10%: Sharma

Salil Sharma of Kapur Sharma & Company is of the view that above Rs 59.50-60, GMR Infrastructure will rise by 10% in 3-4 trading sessions.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Salil Sharma See what other Experts & Brokerages are saying about GMR Infra See messages about GMR Infra GMR Infra BSE | NSE 30/05/12 Are Mutual Funds betting on GMR Infra?

Salil Sharma of Kapur Sharma & Company is of the view that above Rs 59.50-60, GMR Infrastructure will rise by 10% in 3-4 trading sessions.

Sharma told CNBC-TV18, "GMR Infrastructure has not participated in a rally but it is giving signs of doing so. Once it breaks out above Rs 59.50-60 resistance band then it could give you another 10% move in the next three-four trading sessions. So that is looking good. On the downside one should keep a stoploss of Rs 56."

Disclosure: Analyst does not have a personal holding in the above stock or sector but may have recommended them to clients.