Reliance Industrial Infrastructure Ltd Stock Forecast
Evaluation of Reliance Industrial Infrastructure Ltd stock downgraded after the last trading session.
(Updated on Jun 14, 2024)
The Reliance Industrial Infrastructure Ltd stock price gained 0.568% on the last trading day (Friday, 14th Jun 2024), rising from ₹1,321.40 to ₹1,328.90. During the last trading day the stock fluctuated 2.70% from a day low at ₹1,313.00 to a day high of ₹1,348.40. The price has risen in 8 of the last 10 days and is up by 12.44% over the past 2 weeks. Volume fell on the last day by -620 thousand shares and in total, 307 thousand shares were bought and sold for approximately ₹408.20 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at ₹1,358.56 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.35% during the next 3 months and, with a 90% probability hold a price between ₹1,017.52 and ₹1,299.43 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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RIIL.NS Signals & Forecast
The Reliance Industrial Infrastructure Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹1,274.73 and ₹1,240.13. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -2.40%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Reliance Industrial Infrastructure Ltd stock
Reliance Industrial Infrastructure Ltd finds support from accumulated volume at ₹1,321.40 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 ₹35.40 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 5.83%.
Our recommended stop-loss: ₹1,276.60 (-3.94%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 8 days ago.)
Trading Expectations (RIIL.NS) For The Upcoming Trading Day Of Tuesday 18th
For the upcoming trading day on Tuesday, 18th we expect Reliance Industrial Infrastructure Limited to open at ₹1,330.10, and during the day (based on 14 day Average True Range), to move between ₹1,267.99 and ₹1,389.81, which gives a possible trading interval of +/-₹60.91 (+/-4.58%) up or down from last closing price. If Reliance Industrial Infrastructure Limited takes out the full calculated possible swing range there will be an estimated 9.17% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,334.95 (0.46%) than the support at ₹1,321.40 (0.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Reliance Industrial Infrastructure Limited stock A Buy?
Reliance Industrial Infrastructure Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.846 Hold/Accumulate Downgraded
Predicted Opening Price for Reliance Industrial Infrastructure Limited of Tuesday, June 18, 2024
| Fair opening price June 18, 2024 | Current price |
|---|---|
| ₹1,330.10 ( 0.0903%) | ₹1,328.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RIIL.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,365.50 | 2.75% |
| R2 | 1,351.98 | 1.74% |
| R1 | 1,343.62 | 1.11% |
| Price | 1,328.90 | |
| S1 | 1,316.58 | -0.93% |
| S2 | 1,308.22 | -1.56% |
| S3 | 1,294.70 | -2.57% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,361.55 | 2.46% |
| R2 | 1,349.85 | 1.58% |
| R1 | 1,334.95 | 0.455% |
| Price | 1,328.90 | |
| S1 | 1,321.40 | -0.564% |
| S2 | 1,317.80 | -0.84% |
| S3 | 1,315.90 | -0.98% |
RIIL Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 05, 2024 | Jun 05, 2024 | Jul 12, 2024 | ₹3.50 | 0.263% |
| 2 | Jun 12, 2023 | Jun 12, 2023 | Jun 12, 2023 | ₹3.50 | 0.367% |
| 3 | Sep 20, 2022 | Sep 20, 2022 | Sep 20, 2022 | ₹3.00 | 0.249% |
| 4 | Aug 18, 2021 | Aug 18, 2021 | Aug 18, 2021 | ₹3.00 | 0.468% |
| 5 | Sep 10, 2020 | Sep 10, 2020 | Sep 10, 2020 | ₹3.00 | 0.720% |
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