Reliance Infrastructure Limited Stock Forecast
Red day on Friday for Reliance Infrastructure Limited stock after losing 0.91%
(Updated on Apr 26, 2024)
The Reliance Infrastructure Limited stock price fell by -0.91% on the last day (Friday, 26th Apr 2024) from ₹192.65 to ₹190.90. During the last trading day the stock fluctuated 2.55% from a day low at ₹190.15 to a day high of ₹195.00. The price has fallen in 6 of the last 10 days and is down by -32.9% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -974 thousand shares and in total, 2 million shares were bought and sold for approximately ₹366.20 million.
The stock lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at ₹189.58 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.43% during the next 3 months and, with a 90% probability hold a price between ₹196.08 and ₹311.55 at the end of this 3-month period.
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RELINFRA.NS Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.14%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 ₹192.41 and ₹237.67. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Reliance Infrastructure Limited stock
Reliance Infrastructure Limited finds support from accumulated volume at ₹188.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved ₹4.85 between high and low, or 2.55%. For the last week, the stock has had daily average volatility of 3.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RELINFRA.NS) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Reliance Infrastructure Limited to open at ₹192.02, and during the day (based on 14 day Average True Range), to move between ₹172.22 and ₹209.58, which gives a possible trading interval of +/-₹18.68 (+/-9.78%) up or down from last closing price. If Reliance Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 19.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₹188.75 (1.13%) than the resistance at ₹197.75 (3.59%), 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?
The Reliance Infrastructure Limited stock holds several negative signals and despite the positive trend, we believe Reliance Infrastructure Limited will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -1.363 Sell Candidate Unchanged
Predicted Opening Price for Reliance Infrastructure Limited of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| ₹192.02 ( 0.585%) | ₹190.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RELINFRA.NS
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 196.87 | 3.13 % | |
| R2 | 195.01 | 2.16 % | ||
| R1 | 193.87 | 1.56 % | ||
| Current price: | 190.90 | |||
| Support | S1 | 190.16 | -0.386 % | |
| S2 | 189.02 | -0.99 % | ||
| S3 | 187.17 | -1.96 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 227.60 | 19.22 % | |
| R2 | 199.95 | 4.74 % | ||
| R1 | 197.75 | 3.59 % | ||
| Current price | 190.90 | |||
| Support | S1 | 188.75 | -1.13% | |
| S2 | 186.90 | -2.10% | ||
| S3 | 0 | . |
RELINFRA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 23, 2018 | Sep 12, 2018 | Oct 18, 2018 | ₹9.50 | 3.00% |
| 2 | Apr 16, 2017 | Sep 14, 2017 | Oct 26, 2017 | ₹9.00 | 1.83% |
| 3 | May 29, 2016 | Sep 15, 2016 | Oct 27, 2016 | ₹8.50 | 1.57% |
| 4 | May 27, 2015 | Sep 16, 2015 | Oct 30, 2015 | ₹8.00 | 2.02% |
| 5 | May 19, 2014 | Sep 18, 2014 | Oct 30, 2014 | ₹7.50 | 1.26% |
FAQ
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