GMR Infra may rally to Rs 24: Bothra

GMR Infra may rally to Rs 24, says Kunal Bothra, Sr Technical Analyst, LKP.
 
Bothra told CNBC-TV18, “I prefer GMR Infrastructure, this stock mentions some bit of observation at this point because if you look at the chart performance for the last one month when the market or the real estate packs or the infra packs were more or less under performing or going in deep correction this was one stock from Rs 17 it has corrected to Rs 21-22 levels and it is showing that signs of first buying coming across.”
 
He further added, “It is trading above the 200 day moving average (DMA) which is very rare that the stock below from the 200 DMA has managed to surpass the 200 DMA, good sign for the stock. So, GMR Infra mentions a trade at this point. My sense is the stock could be headed to Rs 23.50-24 levels in the next 15 days or so.”