Potential upsideSometimes the patterns aren't apparent. But if you look close enough when there is a big movement, sometime it reveals some nice story. You may ignore this saying there is a resistance coming looking at previous peak. Believe me , sometimes these resistances gets broken like a piece of glass.
Look at the two double bottoms one after another in long and short term. It builds really a firm base and shows more promise for the upside.
One can go for a target of 360 for a short-term view with some obvious stoploss.
Good luck
RELIGARE
Religare can rock; Are you holding this stock?Religare Enterprise Ltd. CMP – 230.15
Market Capitalization Rs 7,581.8Cr
Red Flags:🟥
Declining cash from operations annual
FIIs are decreasing stake
Green Flags:🟩
No debt
Zero promoter pledge
MFs are increasing stake
Improving annual net profit
Previous Happy Candles Number – 62/100
New Happy Candles Number – 69/100
Fresh Entry/ averaging / compounding after closing above 232
Targets: 244 and 258
Long term target: 267 and 280
Stop loss: Closing below 211
The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
RELIGARE - Bullish Swing ReversalNSE: RELIGARE is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 11% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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