Religare Enterprises Limited Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Thursday for Religare Enterprises Limited
(Updated on Jun 27, 2024)
The Religare Enterprises Limited stock price fell by -0.96% on the last day (Thursday, 27th Jun 2024) from ₹238.93 to ₹236.64. During the last trading day the stock fluctuated 2.75% from a day low at ₹233.10 to a day high of ₹239.50. The price has risen in 7 of the last 10 days and is up by 7.97% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -215 thousand shares and in total, 2 million shares were bought and sold for approximately ₹502.75 million.
The stockis at the upper part of a wide and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at ₹238.96 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect Religare Enterprises Limited stock with a 90% probability to be traded between ₹207.28 and ₹240.87 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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RELIGARE.NS Signals & Forecast
The Religare Enterprises Limited stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ₹235.15 and ₹220.50. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.96%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Religare Enterprises Limited stock
Religare Enterprises Limited finds support from accumulated volume at ₹233.41 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹6.40 between high and low, or 2.75%. For the last week, the stock has had daily average volatility of 2.90%.
Our recommended stop-loss: ₹228.22 (-3.56%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (RELIGARE.NS) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect Religare Enterprises Limited to open at ₹236.41, and during the day (based on 14 day Average True Range), to move between ₹229.59 and ₹243.69, which gives a possible trading interval of +/-₹7.05 (+/-2.98%) up or down from last closing price. If Religare Enterprises Limited takes out the full calculated possible swing range there will be an estimated 5.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹237.07 (0.18%) than the support at ₹233.41 (1.36%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Religare Enterprises Limited stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Religare Enterprises Limited stock to perform well in the short-term period.
Current score: 3.306 Buy Candidate Unchanged
Predicted Opening Price for Religare Enterprises Limited of Friday, June 28, 2024
| Fair opening price June 28, 2024 | Current price |
|---|---|
| ₹236.41 ( 0.0958%) | ₹236.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RELIGARE.NS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 242.81 | 2.61% |
| R2 | 240.37 | 1.58% |
| R1 | 238.86 | 0.94% |
| Price | 236.64 | |
| S1 | 233.97 | -1.13% |
| S2 | 232.46 | -1.77% |
| S3 | 230.01 | -2.80% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 238.93 | 0.97% |
| R2 | 238.20 | 0.659% |
| R1 | 237.07 | 0.182% |
| Price | 236.64 | |
| S1 | 233.41 | -1.36% |
| S2 | 228.24 | -3.55% |
| S3 | 219.95 | -7.05% |
RELIGARE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 19, 2010 | Mar 30, 2010 | Apr 18, 2010 | ₹2.00 | 0.508% |
| 2 | Jun 26, 2008 | Sep 12, 2008 | Oct 01, 2008 | ₹1.05 | 0.306% |
FAQ
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