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Reliance Infra share price and free nifty stock tips - Stock closed above major trend line resistance, showing bullish signals - updated for 28th December 2015, Monday.


RELIANCE INFRA

Stock moved up from strong trend line support zone as shown in above technical image.

As per current chat Reliance Infra closed above its major trend line resistance zone and now its previous resistance will now act as a major support @ 464 for this stock. As long as stock holds above bulls will be favored and further price rise can be seen in coming days.

Suggested reading - Click link to read article on what is nifty.

Above image also indicates that stock showed long bullish candlestick pattern with increasing volume this shows bulls are currently active and intraday bulls action can be seen once stock holds above its yesterdays high @ 496.

MACD and slow stochastic are moving in +ve zone this indicates further price rise can be seen as long as Reliance Infra holds above its trend line.

Suggested reading - Click on link to read article on muhurat trading.

On 24 December 2015, Thursday Reliance Infra share price was closed at 491.70 +33.85 (7.39%).

Stock was on News:- Reliance Infrastructure is in the advanced stage of negotiations to sell its cement business and a deal can be announced as early as this week as the Anil Ambani-led firm tries to cut debt 

Reliance Cement, which has an annual capacity of 5.5 million tonnes, started operations in 2007 

Reliance Infrastructure, with a net worth of over USD 4 billion, is trying to sell its non-core assets, including the road business to pare debt and fund expansion in the defence manufacturing sector, which it feels will be the primary driver for future growth.

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