RELIANCE INFRA – Buy / Sell or Hold?

Friends, in the last write-up we caught two stocks and both are doing well as we expected. Today we found one more multi-bagger stock i.e. RELIANCE INFRA based on chart & fundamentals.

Chart Analysis of RELINFRA: On the weekly time frame, the stock has made on big rounding bottom in between the price range of 6 to 110. This bottom has taken time from June 2019 to June 2021. Then shown the pullback till 60 and made new bottom above previous i.e. higher low. The stock has started up journey after September 2021 and did two time struggle near 110. Finally stock has succeeded to cross the resistance levels of 110 in January 2022 and given confirmation of Rounding Bottom + Bullish Triangle. The breakout candle had good strength and the price went up to 150. After that stock has come down due to the Russian-Ukraine war and global sentiments. In the last week, stock price rise again from trend line support and closed at weekly high levels. The current candle has good strength so we are expecting more up moves till 140 / 150 and support levels are around 110 / 103.

Let’s talk about the company's business and its scope. Reliance Infrastructure Ltd. is one of the largest infrastructure companies engaged in developing infrastructure projects through various Special Purpose Vehicles in several sectors such as power, roads, metro rail, and airport in the infrastructure space and the defense sector. The company is also a leading utility company having a presence across the value chain of power businesses i.e. generation, transmission, distribution, and power trading.

The balance sheet of a company is not good but the company has increased its total assets in the last two quarters. In coming days company business will improve as per our study.

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Disclaimer: The contents produced here are purely for educational purposes. They should not be construed as buy/sell recommendations. I am not a SEBI registered Analyst or Investment Advisor. Readers are advised to consult their Investment advisor before taking any decisions based on the above write-up.