RELIANCE INFRASTRUCTURE LTD
Open—314---High---347.55---Low---311.10—Close—330.50 on 30.5.2025.
Support:327.85/308.90/304.15/272.75/225.70.-----
Resistance:347.50/351/367/373.70/380.75/426.65/446.40/489.55/512.55/529.80/544/589.90/620/635.70.-----
ATH: ---2641 made on 8.1.2008.
ATL: ---- 8.65 made on 26.3.2020.
(Bold and underlined figures are most important)
Technically it has shaped up well for a good up-move but now it is moving or consolidating in a range of 351---304.15 and breakout on the either side will decide the further direction for the stock, looking at the overall chart setup it is likely to give an upside breakout in coming times. Please note that it may get into strong up momentum track once it moves above the range of 415---465 and sustain on the closing basis. In view of the above observation, it is therefore suggested that one can buy token quantity of the stock now or if it moves down then near the lower band of the range with a stop loss of 295 and can add on position if it moves above 351 and sustain on the closing basis with a stop loss of 340. It seems that it is preparing for a big up-move but this process may take a long time, which may please be noted.
REMARKS:- The stock has the potential
to double or more in the 15—18 month’s
time frame or earlier. Therefore structure your investment in the stock as
mentioned above.
NOTE:--THE CONCERN IS THAT
PROMOTERS STAKE IS VERY LOW AT 16.50%
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company because that too keeps on
changing and last but not the least management perception for the future of the
company before taking investment decision.
Disclaimer:-The view expressed here are solely of the
author and he is not at all responsible in any way for the outcome of the trade
you enter based on the above view. It is for the educational purpose.
Kindly note that make your cost your stop loss
in favorable trade and then trail it as the price move up/down
to gain maximum profit and avoid losses. Use support and resistance levels as
entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT
STOP LOSS.
Note: Price stated
here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
