Reliance Infrastructure Ltd — Approaching Channel Resistance with Strong Momentum

🔍 Technical Picture Reliance Infrastructure Ltd continues to trend higher within a well-defined rising channel that has guided price action since early 2022. The stock has recently surged nearly 40% over the past 4 weeks, approaching the upper boundary of the channel (~₹380 zone). Today's weekly close at ₹371.80 marks the highest level since 2022 with a strong bullish candle and heavy volume — a sign of aggressive buying participation. The Relative Strength Index (RSI) at 68.83 is nearing overbought territory but still offers room for an extension towards 75–80 if momentum persists. Historical pullbacks have found support at the lower channel trendline, offering a clear structure to trade within. ⚖️ Outlook & Levels to Watch ✅ Bullish Bias While Inside Channel ✅ Immediate resistance zone: ₹380–₹400 (channel resistance) ✅ Potential breakout target: ₹420+ if the channel breaks on volume ⚠️ Support zones to watch: ₹330–₹340 and lower channel trendline (~₹280–₹300) Given the current momentum and volume expansion, Reliance Infra could attempt a breakout beyond channel resistance, but profit booking may occur near ₹380–₹400. Traders should watch for either a breakout retest or a healthy consolidation. 📝 Summary Reliance Infrastructure Ltd remains in a strong structural uptrend within a rising channel. The recent breakout move is supported by rising volumes and bullish momentum. Caution is advised near channel resistance, but any breakout with volume expansion could lead to further upside. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.