RELINFRA

Technical View (Weekly Chart) Price Action: Stock has been under consistent selling pressure, now trading near ₹259–₹265 support zone. Moving Averages: Broke below 20 & 50 WMA, signaling weakness. 200 WMA support lies much lower (~₹200–₹210). Indicators: MACD: Negative crossover → bearish momentum. RSI (42): Neutral-to-weak zone; not oversold yet. Parabolic SAR: Dots above price → bearish trend. Technical Summary: Immediate support ₹250–255, below which stock may slide to ₹230. Resistance seen near ₹285–300. Fundamental View Business: Engaged in power distribution, EPC, roads, metro projects, and defense infrastructure. Concerns: Heavy debt burden, high interest cost, and pending litigations. Positives: Strong EPC order book; benefits from government infra spending. Upcoming Events: Q2 & Q3 FY26 Results → clarity on profitability and debt reduction. Infra project allocation in budget & state elections → stock may react. Any strategic stake sale, asset monetisation, or debt resolution. Technical View As seen on the weekly chart, the stock has been consistently declining for the past four weeks. Due to ongoing geopolitical tensions and negative market news, the stock continued its downtrend and is now trading near its monthly low. During this week, the stock made a high of ₹284 and closed at ₹259.80. The movement indicates high volatility, which suggests that the stock may face further downside pressure in the short term. However, on the daily chart, the stock is seen taking support around the ₹250 level. In my view, if the stock comes near this support zone, it can be considered for a “buy on dips” strategy. For the long term, the stock has the potential to move towards ₹300 as the first target and ₹350 as the second target, provided the support levels sustain.