Religare Enterprises Ltd (RELIGARE) - Long opportunity
Entry Range: ₹250 - ₹270
Target: ₹380++ (more than 30% to 40% upside potential)
Stop Loss: Below ₹230
EMA Levels:
21 Days EMA: ₹275.90
21 Weeks EMA: ₹249.05
200 Days EMA: ₹243.83
Technical Analysis:
Religare Enterprises is currently in a consolidation phase, showing signs of bullish momentum on the weekly chart. The stock is holding strong above the 21-Day EMA and 21-Week EMA, which indicates a possible breakout if the price continues to hold above these averages.
Entry Point: The best entry point lies between ₹250 and ₹270, based on the strong support around these levels. This range also coincides with the 21-week EMA, adding strength to the support zone.
Support & Resistance Points:
Support 1: ₹275.90 (21-day EMA)
Support 2: ₹249.05 (21-week EMA)
Resistance 1: ₹361.95
Resistance 2: ₹381.05 (Target)
My View:
Religare Enterprises is poised for a potential upside, given its strong support at the ₹250-₹270 range and favorable EMA conditions. The stock has shown resilience, and the next leg could see a target of ₹380+ if it sustains above these levels. A stop loss below ₹230 will help minimize risks in case of a downward trend.
Target: ₹380++ (more than 30% to 40% upside potential)
Stop Loss: Below ₹230
EMA Levels:
21 Days EMA: ₹275.90
21 Weeks EMA: ₹249.05
200 Days EMA: ₹243.83
Technical Analysis:
Religare Enterprises is currently in a consolidation phase, showing signs of bullish momentum on the weekly chart. The stock is holding strong above the 21-Day EMA and 21-Week EMA, which indicates a possible breakout if the price continues to hold above these averages.
Entry Point: The best entry point lies between ₹250 and ₹270, based on the strong support around these levels. This range also coincides with the 21-week EMA, adding strength to the support zone.
Support & Resistance Points:
Support 1: ₹275.90 (21-day EMA)
Support 2: ₹249.05 (21-week EMA)
Resistance 1: ₹361.95
Resistance 2: ₹381.05 (Target)
My View:
Religare Enterprises is poised for a potential upside, given its strong support at the ₹250-₹270 range and favorable EMA conditions. The stock has shown resilience, and the next leg could see a target of ₹380+ if it sustains above these levels. A stop loss below ₹230 will help minimize risks in case of a downward trend.
Passionate Hustler. Lifetime learner. I dive into everything with full energy and never get bored—always exploring, always evolving. Join me on my journey as I hustle through life, learn new things, and share insights that inspire!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Passionate Hustler. Lifetime learner. I dive into everything with full energy and never get bored—always exploring, always evolving. Join me on my journey as I hustle through life, learn new things, and share insights that inspire!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.