Daily Chart Analysis on

RELINFRA

Reliance Infrastructure (RELINFRA) has witnessed a sharp correction from its recent July highs of around ₹420 and is now trading near ₹287, struggling to sustain above the 200-day EMA placed around ₹290, which has turned into a strong resistance zone. The stock has been under pressure, forming lower highs with selling visible at every upward attempt, while support is being built near the ₹270 zone; if this level breaks, the next support can be expected around ₹250–255. On the upside, immediate resistance lies at ₹295–300, and a sustained move above this could open the path toward ₹315–320 levels, though major resistance remains around ₹350. Indicators are still weak, with Parabolic SAR dots above the candles reflecting a bearish trend, MACD trading in negative territory though showing signs of bottoming out, and RSI hovering around 47, indicating a neutral but slightly bearish bias. Overall, the stock is attempting to form a base after a steep fall, but strength will only be confirmed once it sustains above ₹300–305. In the short term, the bias remains weak with chances of consolidation, while in the medium term, sustaining above key moving averages could bring a reversal. For the long term, investors should wait for a clear breakout above ₹320+ to confirm a stronger uptrend.