“Reliance Infra on the daily chart has signaled breakout from falling trend line above Rs 520 after declining for almost last one month. This breakout was also confirmed with positive crossover in RSI which indicates a buy from over sold position. Moreover on Monday, the stock bounced back from its 100-DMA which is bullish trend reversal pattern and followed with positive closing. We recommend buying Reliance Infra above Rs 528 with stop loss of Rs 518 for target of Rs 548,” says IIFL research report.
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