PL Technical Research: STOCK ON RADAR - RELIGARE ENT

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

STOCK ON RADAR - RELIGARE ENT WEEKLY CHART: RELIGARE ENT 188 has made a higher bottom formation pattern on the weekly chart, and after almost 12 years of a downward sloping trendline, the stock is on the verge of a breakout. With trendline support at 150, a closing above 190 will see a level of 350–400 in the coming days. With the RSI confirming a trend reversal, the bias is maintained as positive. We suggest buying and accumulating for an upside positional target of 350–400, keeping the stop loss near 140.