Religare Enterprises Limited (RELIGARE) Stock - Complete Technical Analysis - Oct 18, 2024

Technical Analysis of Religare Enterprises Limited: Key Insights for Traders

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Analyzing the technicals for Religare Enterprises Limited reveals a current price of 269.85, 9.32% below its 52-week high of 297.6 and 33.85% above the 52-week low of 201.6.

Recent price action includes a Doji and a Spinning Top pattern, reflecting indecision among traders. The stock has seen a slight decline from the previous close of 270.80.

Immediate support is identified at 271.9, while resistance is noted around 284.6. The stock is trading below critical moving averages, with the 10-day EMA at 274.04 and the 20-day SMA at 276.87, indicating potential overhead resistance.

Volatility is significant, as suggested by the Average True Range (ATR), making the stock vulnerable to sudden price shifts. The RSI reading of 45.84 indicates a neutral stance, while the negative MACD points to bearish momentum.

Overall, the indicators provide a mixed outlook. Given the recent price trends showing weakness and indecision, traders should exercise caution and watch for a breakout above 274.04 or a fall below 266.00 to signal the next move.