IamGeorgy

Religare is about to break its long term support/resistance

Long
NSE:RELIGARE   RELIGARE ENTERPRIS
There was a rounding bottom pattern in Religare and it was bullish because of it. Now it will probably consolidate between this new support region and a historically important price range. (104-117 region). Afterwards, it can break this range and go up at least till 175-180 region.
See the screenshot below, analyse on your own and let me know your thoughts.
Trade active: Since I only opt for very short term swings, I exited with more than 10% profit around 128.4. Such profit bookings are bound to happen every now and then. Tread lightly.

Long term investors need not worry.

Comments

I bought @101
Now the stock is falling CMP is @125

Should i wait for an uptrend ?
Reply
exited at 130.
Reply
IamGeorgy sohamdey76
@sohamdey76, Great job! It went up till 142.4 today. But the growth or fall of a stock after getting out of a trade shouldn't bother the trader.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter