GTL Infra, shows a distinctive pattern emerging which signals a temporary bottom. The overall base-like pattern carved out by GTL Infra during the past 1 month appears to be maturing now. In fact, the last couple of trading weeks it represents a high level bullish congestion area between Rs34-38. We believe that the current bullish consolidation lead to a potential upside up to the levels of Rs43 and above. We recommend traders to buy the stock in the range of Rs35-38 for a short-term target of Rs42-44. It is advisable to maintain a stop loss of Rs31.90.
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