Reliance Infrastructure Limited (RELINFRA) Stock - Complete Technical Analysis - Nov 12, 2024

Reliance Infrastructure (RELINFRA) Stock Technical Analysis: Support, Resistance & Key Insights fo

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Reliance Infrastructure Limited (RELINFRA) is experiencing some bearish momentum as the stock trades near 263. It is showing oversold conditions with an RSI of 41.98 and a Stochastic Oscillator at 19.32, indicating the possibility of a reversal if buying interest picks up. However, the MACD remains negative, suggesting further weakness.

For traders, key support is at 240-245, with a stronger support zone at 263.41, as indicated by the Camarilla pivot. The resistance zone to watch is between 280-285, where moving averages provide a barrier to any upward momentum.

Despite a lack of strong directional movement, indicated by an ADX of 15.47, the ATR of 21.30 suggests moderate volatility, with fluctuations between 19.00 and 25.00. Recent price action has shown a decline from the 52-week high of 351, so a continuation of this bearish trend could push the stock towards support levels. A reversal is possible if it manages to break resistance at 280-285, but traders should remain cautious of any further downside. Keep an eye on volume and momentum indicators to gauge strength before making any decisions.