Religare Enterprises stock technical analaysis long opportunity

24. Aug. 2023

This technical analysis report for Religare Enterprises stock provides an overview of the current trend, support and resistance levels, moving averages, and RSI.

The report concludes that the stock is in a bullish trend, but it may be due for a correction. Investors should wait for the stock to cool off before entering a long position.


Current Price: ₹240.80

Trend: The stock is currently in a bullish trend, as it has been rising for the past few days.

Support: The immediate support level is ₹230, followed by ₹220.

Resistance: The immediate resistance level is ₹250, followed by ₹260.


Moving averages: The 200-day moving average is sloping upwards, which is a bullish signal. The 50-day moving average is also sloping upwards, This suggests that the stock is still in the early stages of its uptrend.

Relative strength index (RSI): The RSI is currently at 75, which is in the overbought territory. This suggests that the stock may be due for a correction.

Conclusion: The technical indicators suggest that the Religare Enterprises stock is in a bullish trend. However, the RSI is in the overbought territory, which suggests that the stock may be due for a correction. Investors should wait for the stock to cool off before entering a long position.

However, investors should wait for the stock to cool off before entering a long position.