GMR INFRA; UP 65% IN 30 DAYS

GMR INFRA LTD  CMP 29.3

• On the upside, resistances at 29.4 and 29.95 followed by 31.6 and then 33.7. A decisive close above 33.7 could see it go all the way upto 40 levels quickly. Since it is on the threshold of overcoming the major resistance at 29.4 on a closing basis, I feel it has the strongest chances of a breakout as comparesd to the other two ie LANCO and GVK.
• In the event of sentiment downs due to the macro environ, downside support at 26.5 followed by 22.7 and then 21.6.
• Investors can look at buying on all possible dips with conservative 12 month target of 45 approx.