Reliance Industrial Infrastructure Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Reliance Industrial Infrastructure Ltd stock upgraded to Hold/Accumulate.
(Updated on Jun 26, 2024)
The Reliance Industrial Infrastructure Ltd stock price gained 0.264% on the last trading day (Wednesday, 26th Jun 2024), rising from ₹1,327.80 to ₹1,331.30. During the last trading day the stock fluctuated 1.68% from a day low at ₹1,325.05 to a day high of ₹1,347.35. The price has been going up and down for this period, and there has been a -2.22% loss for the last 2 weeks. Volume fell on the last day by -121 thousand shares and in total, 247 thousand shares were bought and sold for approximately ₹329.49 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 ₹1,355.38 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 -2.74% during the next 3 months and, with a 90% probability hold a price between ₹1,033.41 and ₹1,318.21 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 a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately ₹1,334.14. On a fall, the stock will find some support from the long-term average at approximately ₹1,247.11. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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 -2.22%. 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 may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ₹22.30 between high and low, or 1.68%. For the last week, the stock has had daily average volatility of 2.98%.
The Reliance Industrial Infrastructure Ltd stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: ₹1,289.73 (-3.12%) (This stock has high daily movements and this gives high risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 15 days ago.)
Trading Expectations (RIIL.NS) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect Reliance Industrial Infrastructure Limited to open at ₹1,334.57, and during the day (based on 14 day Average True Range), to move between ₹1,278.21 and ₹1,384.39, which gives a possible trading interval of +/-₹53.09 (+/-3.99%) 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 7.98% 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 (0.27%) than the support at ₹1,321.40 (0.74%), 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.537 Hold/Accumulate Upgraded
Predicted Opening Price for Reliance Industrial Infrastructure Limited of Thursday, June 27, 2024
| Fair opening price June 27, 2024 | Current price |
|---|---|
| ₹1,334.57 ( 0.245%) | ₹1,331.30 |
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 | 1,356.87 | 1.92% |
| R2 | 1,348.35 | 1.28% |
| R1 | 1,343.09 | 0.89% |
| Price | 1,331.30 | |
| S1 | 1,326.05 | -0.394% |
| S2 | 1,320.79 | -0.790% |
| S3 | 1,312.27 | -1.43% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,361.55 | 2.27% |
| R2 | 1,349.60 | 1.37% |
| R1 | 1,334.95 | 0.274% |
| Price | 1,331.30 | |
| S1 | 1,321.40 | -0.744% |
| S2 | 1,317.80 | -1.01% |
| S3 | 1,315.90 | -1.16% |
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% |
FAQ
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