Things might be looking different for GMR.GMR is giving impulsive indications out of the blue. My count has it doing an ABC on the longer time frames , currently on the C down to complete a larger 2 of an impulse of next larger degree. I have my bids spread in INR 13-15 region. Although , it can all turn out to be a false hope and the market can continue downwards if there not enough buy pressure to print a reversal for a larger 3 . i'll be aiming for the 2.618 fib extension for this 3 . This larger 2 can go all the way down to 99.9% of the fib retracement technically.
Moreover , the H&S on the long time frames has a nice volume confirmation and sets up a good context for the reversal after the breakdown and fulfilling its initial targets.
To invalidate this count , price will have to break the INR 9.7-9.8 region and that would mean an extended correction .
Thank you.
