According to market analysis, GMR Infrastructure has recently broken out from a long consolidation phase, supported by strong volume and closing above the Rs 95 mark. On the daily chart, a solid base formation is observed at its previous breakout levels. The overall structure appears promising as the stock is trading above key moving averages. Resistance is anticipated around Rs 100, and a potential rise towards Rs 105+ could be seen in the near term if this level is crossed. On the downside, Rs 94.50 is identified as major support in case of a correction. Additionally, the momentum indicator RSI is showing a positive trend, while the MACD signals continued strength.
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