GMR Airports is showing a strong bullish reversal setup on the weekly chart after correcting from its recent highs near 115. The stock has now reached its long-term rising support trendline around 85–88 which has triggered multiple major recoveries since 2023. What makes this setup interesting is that buyers are once again defending this important zone while the weekly RSI is recovering from near oversold levels. The stock is also trading close to its 100 EMA around 92 which makes the current area important for the next directional move. This correction looks like a healthy retest of the broader bullish structure rather than a complete trend reversal.
I am expecting GMR Airports to reclaim the 100 EMA near 92 and gradually recover towards 100–105 initially followed by 115–120. The upper resistance trendline has been tested multiple times and another rally towards this zone will be important. A sustained breakout above 115 can unlock further upside momentum while trapping sellers who entered during the recent correction. As long as the rising support near 85 remains intact the bigger bullish structure continues to look attractive. I remain strongly bullish on GMR Airports because this support retest offers an interesting opportunity for the next major rally towards 120+.
I am expecting GMR Airports to reclaim the 100 EMA near 92 and gradually recover towards 100–105 initially followed by 115–120. The upper resistance trendline has been tested multiple times and another rally towards this zone will be important. A sustained breakout above 115 can unlock further upside momentum while trapping sellers who entered during the recent correction. As long as the rising support near 85 remains intact the bigger bullish structure continues to look attractive. I remain strongly bullish on GMR Airports because this support retest offers an interesting opportunity for the next major rally towards 120+.
📌 Join Trading Community 👇
Telegram : 👉telegram.me/chartifyy
Instagram: 👉 instagram.com/chartifyig?igsi=Y2ZiODZtczZ2aDA=&utm_source=qr
Telegram : 👉telegram.me/chartifyy
Instagram: 👉 instagram.com/chartifyig?igsi=Y2ZiODZtczZ2aDA=&utm_source=qr
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📌 Join Trading Community 👇
Telegram : 👉telegram.me/chartifyy
Instagram: 👉 instagram.com/chartifyig?igsi=Y2ZiODZtczZ2aDA=&utm_source=qr
Telegram : 👉telegram.me/chartifyy
Instagram: 👉 instagram.com/chartifyig?igsi=Y2ZiODZtczZ2aDA=&utm_source=qr
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.