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This stock reversed downwards from an intra-week peak at Rs 1,101 and declined to the support at Rs 920.

The sideways move between Rs 900 and Rs 1,150 appears to be the second leg of the medium-term up move from the Rs 810 trough.

The third leg upwards is likely to take the stock towards Rs 1,200 or Rs 1,380 over the medium-term.

A weekly close below Rs 844 is needed to negate this view.

Reliance Infrastructure could, however, face downward pressure in the near-term.

Immediate supports are at Rs 900 and then Rs 840. Short positions are advised only on a breach of the Rs 840-support.

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