Reliance Capital Share Price Target 2023
Table of Contents
Reliance Capital Share Price Target 2022 and Technical Analysis
After a steep downtrend, Reliance Capital stock formed a low slope rising wedge on weekly charts. Price action on weekly charts suggests that the bearish move has stalled for the time being, and long-term investors are keeping an eye on the stock.
Stock hit its all time low of 3.92 on 23 march 2020, after which wedge pattern is in continuous development.
Volume Price Analysis ( VPA) for Reliance Capital Stock
With the exception of two occasions where there were clearly visible volume spikes, the consolidation phase’s typical characteristics of low volume price action can be seen throughout the wedge formation.
Both occasions volume bars crossed 20 day average volume line (shown in blue) but price movement has bot been so significant enough , which clearly states weak hand buying.
Second time price was able to reach the important price resistance level of 26, however unable to breakout despite strong volume, which also clearly shows that big players are not very interested in long term outlook for the stock.
Price Targets for Reliance Capital Share
Below Table Suggests the price reliance capital share price target, if there is a momentum breakout and price able to sustain the crucial resistance level of 26 – 27 range
If prices break over the top border of the rising wedge and remain above price level 27, there is a probability of price reversal and positive momentum, giving traders and investors below price target levels to look for –
| Price Target Level -1 | 65.53 |
Price Target Level -2 | 102 |
Price Target Level -3 | 138 |
If prices fall below the wedge formation, the bearish trend may continue; however, there are no significant targets for the selling side, so it is best not to go short.
Live Reliance Capital share price forecast
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Reliance Capital Fundamental Analysis
Reliance Capital Ltd. operates as a holding company that provides financial services. Finance & Investments, General Insurance, Life Insurance, Commercial Finance, Home Finance, and Others are its business segments. Corporate loan and investment operations are included in the Finance and Investments section. General and health insurance services are included in the General Insurance sector. The Life Insurance sector is concerned with the life insurance industry. The Commercial Finance section serves the commercial finance and mortgage industries. Other financial and associated services are included in the Other section. Dhirubhai Hirachand Ambani launched the firm on March 5, 1986, and it is headquartered in Mumbai, India.
Reliance Capital Ltd. Share Price
Conclusion
Reliance capital stock analysis suggests that the share’s bad days may not be over yet, but if there is some interesting news, fundamental change, or any development around the corner, it may shift investor sentiment, and from a technical standpoint, the upper boundary of the wedge and resistance level 28 -30 is very significant and to watch out for.
Reliance Capital Share Price Target 2022 has been separated into three levels – 65, 102, and 138. These levels are only meaningful if positive momentum remains above the trading range of 13 to 31; otherwise, the consolidation may take longer to turn around and reveal where prices may be going.
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