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Friends, in the last record we caught two actions and both are working well as we expected. Today we found another action with multiple packages, ie. Reliance Infrastructure Ltd (NS:) based on charts and fundamentals.
Chart analysis of RELINFRA: On the weekly time frame, the stock made a large rounded bottom between the price range of 6 to 110. This bottom lasted from June 2019 to June 2021. It then showed a pullback to 60 and made a new bottom above the previous one, ie. higher low. The stock went on a journey after September 2021 and made a double fight near 110. Finally, the stock managed to break the 110 resistance level in January 2022 and gave confirmation Rounding Bottom + Bullish triangle. The breakout candle had good strength and the price rose to 150. After that, the stock fell due to the Russian-Ukrainian war and global sentiments. In the last week, the stock price has rebounded from trendline support and closed at weekly highs. The current candle has good strength so we expect more movement to 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 defense sector. The company is also a leading utility company that is present in the entire value chain of power companies, i.e. production, transmission, distribution and trade of electricity.
The company’s balance sheet is not good, but the company has increased its total assets in the last two quarters. In the coming days, the company’s business will improve according to our study.
ORIGINAL POST
https://vvv.youtube.com/vatch?v=b3Vtss67DOo
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Disclaimer: The content produced here is for educational purposes only. 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 making any decision based on the above writing.
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