Reliance Infrastructure Share Price is about to hit a high of Rs 302, know what market experts say
Reliance Infrastructure Ltd (RELINFRA) has been a focal point in the stock market, with significant movements and investor interest. The share price closed at ₹213.4 today, marking a notable increase of ₹16.00 or 9.54% from the previous close of ₹197.40. This surge reflects a broader positive sentiment in the market, particularly in response to recent developments affecting the infrastructure sector.
Main Points
The stock market has seen fluctuations, but Reliance Infrastructure has shown resilience. The stock opened at ₹213 and reached a high of ₹216 during the trading session. The 52-week range for RELINFRA is between ₹134.85 and ₹308, indicating substantial volatility over the past year. The market capitalization stands at approximately ₹8,558 crore, reflecting its large-cap status in the infrastructure development sector.
For tomorrow’s trading session, several key levels are crucial for investors to monitor:
- Support Levels:
- S1: ₹174
- S2: ₹165
- S3: ₹156
- Resistance Levels:
- R1: ₹193
- R2: ₹202
- R3: ₹211
The pivot point for RELINFRA is set at ₹184. If the stock trades above this level, it may indicate a continuation of the upward trend. Conversely, falling below this point could signal potential declines.
Analysts have mixed predictions for RELINFRA’s performance tomorrow. According to forecasts:
- Bullish Scenario: If RELINFRA maintains its position above ₹211.48, it is likely to continue its upward trajectory. Target prices for tomorrow are projected between ₹210.54 and ₹246.81.
- Bearish Scenario: Should the stock dip below crucial support levels, particularly below ₹174, it might face downward pressure with potential targets around ₹209.43.
Recent news has played a significant role in shaping investor sentiment towards Reliance Infrastructure:
- Market Sentiment Shift: A recent drop in crude oil prices has positively impacted infrastructure stocks, including RELINFRA. This change has led to increased buying interest as investors anticipate better margins for infrastructure projects.
- Corporate Developments: The company’s ongoing projects and their completion timelines are critical factors influencing its share price. Any delays or advancements in project execution can lead to significant price movements.
- Regulatory Environment: Changes in government policies regarding infrastructure spending can also affect RELINFRA’s performance. Investors are closely watching these developments for any potential impact on future earnings.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
