Reliance Infrastructure Limited Stock Forecast

Reliance Infrastructure Limited stock upgraded to Sell Candidate.
(Updated on May 10, 2024)

RELINFRA.NS Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 09, 2024, and so far it has risen 1.09%. 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). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 ₹168.56 and ₹222.80. A break-up above any of these levels will issue buy signals.

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

Reliance Infrastructure Limited finds support from accumulated volume at ₹161.20 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 ₹7.95 between high and low, or 5.05%. For the last week, the stock has had daily average volatility of 5.84%.

Reliance Infrastructure Limited is oversold on RSI14 (16). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

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 13th

For the upcoming trading day on Monday, 13th we expect Reliance Infrastructure Limited to open at ₹161.93, and during the day (based on 14 day Average True Range), to move between ₹149.48 and ₹176.42, which gives a possible trading interval of +/-₹13.47 (+/-8.27%) up or down from last closing price. If Reliance Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 16.54% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at ₹161.20 (1.07%) than the resistance at ₹186.90 (14.70%), 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 is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.

Current score: -4.404 Sell Candidate Upgraded

Predicted Opening Price for Reliance Infrastructure Limited of Monday, May 13, 2024

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