GMR Infra can touch Rs 65-66: Gujral

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GMR Infra can touch Rs 65-66: Gujral

GMR Infra can touch Rs 65-66, says Technical Analyst, Ashwani Gujral.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashwani Gujral 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?

GMR Infra can touch Rs 65-66, says Technical Analyst, Ashwani Gujral .

Gujral told CNBC-TV18, " JP Associates has been on the range of Rs 120-125 on the downside and Rs 165-170 on the upside."

He further added, "GMR Infra, sporadic moves but nothing ever really comes out of that. I think it has support around Rs 53-54 in this move and probably can get to levels of Rs 65-66, it really needs to cross those resistances to make a significant move. These stocks are below their 200 DMA; JP Associates just crossed it yesterday, so these are weaker than the market, so these are not really the outperforming spaces, which can really give you the bang for the buck."

GMR Infrastructure touched an intraday high of Rs 61.20 and an intraday low of Rs 60.15. At 09:46 hrs the share was quoting at Rs 60.85, up Rs 0.95, or 1.59%. Yesterday the share closed up 3.99% or Rs 2.30 at Rs 59.90.
 
The company touched its 52 week high Rs 91.75 and 52 week low Rs 48.40 on 05 Jun, 2009 and 31 Mar, 2009, respectively. Currently, it is trading -33.68% below its 52-week high and 25.72% above its 52-week low. Market capitalisation stands at Rs 22,315.85 crore.