Reliance Infrastructure Limited Stock Forecast

Red day on Tuesday for Reliance Infrastructure Limited
(Updated on May 21, 2024)

RELINFRA.BO Signals & Forecast

There are mixed signals in the stock today. The Reliance Infrastructure Limited stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹168.83 and ₹209.35. A break-up above any of these levels will issue buy signals. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 4.03%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for Reliance Infrastructure Limited stock

Reliance Infrastructure Limited finds support from accumulated volume at ₹166.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹5.70 between high and low, or 3.41%. For the last week, the stock has had daily average volatility of 3.07%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (RELINFRA.BO) For The Upcoming Trading Day Of Wednesday 22nd

For the upcoming trading day on Wednesday, 22nd we expect Reliance Infrastructure Limited to open at ₹169.27, and during the day (based on 14 day Average True Range), to move between ₹157.82 and ₹177.98, which gives a possible trading interval of +/-₹10.08 (+/-6.01%) up or down from last closing price. If Reliance Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 12.01% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹166.65 (0.74%) than the resistance at ₹192.70 (14.77%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Reliance Infrastructure Limited stock A Buy?

Reliance Infrastructure Limited holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.

Current score: -2.775 Sell Candidate Unchanged

Predicted Opening Price for Reliance Infrastructure Limited of Wednesday, May 22, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.