Daily Chart Analysis on RELINFRA
Reliance Infrastructure (RELINFRA) has witnessed a sharp correction from its recent July highs of around ₹420 and is now trading near ₹287, struggling to sustain above the 200-day EMA placed around ₹290, which has turned into a strong resistance zone. The stock has been under pressure, forming lower highs with selling visible at every upward attempt, while support is being built near the ₹270 zone; if this level breaks, the next support can be expected around ₹250–255. On the upside, immediate resistance lies at ₹295–300, and a sustained move above this could open the path toward ₹315–320 levels, though major resistance remains around ₹350. Indicators are still weak, with Parabolic SAR dots above the candles reflecting a bearish trend, MACD trading in negative territory though showing signs of bottoming out, and RSI hovering around 47, indicating a neutral but slightly bearish bias. Overall, the stock is attempting to form a base after a steep fall, but strength will only be confirmed once it sustains above ₹300–305. In the short term, the bias remains weak with chances of consolidation, while in the medium term, sustaining above key moving averages could bring a reversal. For the long term, investors should wait for a clear breakout above ₹320+ to confirm a stronger uptrend.
Disclaimer:
This analysis/report is prepared for educational and informational purposes only. It should not be considered as investment, trading, or financial advice. Stock market investments are subject to market risks. Past performance is not indicative of future returns. Please consult your SEBI-registered financial advisor before making any investment decisions.
Disclosure:
Investogainer Research is a SEBI Registered Research Analyst (Reg. No. INH000012856) and listed with BSE (Code: 5845). We/our associates/analysts do not have any personal or financial interest, beneficial ownership, or conflict of interest in the securities discussed, unless otherwise specifically mentioned.
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