RELIANCE INFRASTRUCTURE | Analysis

14 thg 2, 2021

As Many of you know that INDIAN Budget 2021 is focused on infrastructure and It is pretty much possible that the stocks related to it will jump.

So, Here is our analysis of RELINFRA, But Let us first talk about this company -->

• Reliance Infrastructure Limited, formerly Reliance Energy Limited and Bombay Suburban Electric Supply, is an Indian private sector enterprise involved in power generation, infrastructure, construction, and defense. It is part of the Reliance Anil Dhirubhai Ambani Group. [Source:- Wikipedia]
  
• Parent organization: Reliance Group.
  
• Revenue: 20,972 crores INR (US$2.9 billion, 2020)
  

Now, Should we buy it or short sell it? Let's find out.

According to our analysis -->

* We have Ascending Triangle Ranges in Both Daily and Hourly Chart.
* Secondly, we know that Trend may continue because this Triangle Range is a continuation Range.
* RSI is rising which indicates the buyers have momentum.
* But, We should wait for the breakout, and accordingly we can put the trades.

So, Let's wait for the breakout.........

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