Reliance Infrastructure Limited (RELINFRA) Stock - Complete Technical Analysis - Sep 06, 2024

Reliance Infrastructure Stock Analysis: Key Support

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, with a current price of 213, shows a mixed technical picture. The MACD indicates a minor bullish trend, but the stock's overall momentum is quite weak, suggesting limited upward movement potential. The RSI is in a neutral range, neither overbought nor oversold, while the Stochastic indicators point to a bearish momentum.

Resistance levels are observed around 218 and 224. If the stock faces upward pressure, these could act as significant hurdles. On the support side, key levels are near 198 and 193, where the stock might find buying interest and stability.

The stock is currently trading above its short-term moving averages but below its longer-term averages, signaling a possible struggle to maintain its current price level. The Ichimoku Base Line and Hull Moving Average are positioned above the current price, indicating that the stock will need to break these levels to turn the trend bullish.