RELIGARE ABCD PATTERN AND NARROWING BOLLINGER BANDS

RELIGARE is an interesting chart with following
1. RSI on all time frames above 60
2. Narrowing Bollinger Bands on weekly and daily chart
3. ABCD pattern under formation on weekly chart
4. Major Support near 225-245 zone being 20 day, 20 week, 50 day and 200 day moving averages.

5. Caution ROCE % of company is low as compared to Average of its peers and Company's cost of funds is high

Lets See How it evolves

Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.