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Last Updated : Jan 05, 2011 03:04 PM IST | Source: CNBC-TV18

Religare Enterprises will outperform: Mohindar

Religare Enterprises took support at Rs 450. It has poised a long-term to about Rs 560. So, a long-term investor certainly have a reason to be in it. Even for short-term, getting next 12-15% move is fairly possible. So this will outperform, says Rahul Mohindar, viratechindia.com.


Religare Enterprises took support at Rs 450. It has poised a long-term to about Rs 560. So, a long-term investor certainly have a reason to be in it. Even for short-term, getting next 12-15% move is fairly possible. So this will outperform, says Rahul Mohindar, viratechindia.com.


Mohindar told CNBC-TV18, "What is good about Religare Enterprises is the fact that it has maintained Rs 450 support, it has got a very big support zone there. Over the last couple of months we have not seen that breakdown. So it is interesting. The last two days including today have shown very good volumes, the stock has taken support at the great Rs 450 point. It has poised a long-term to about Rs 560. So if you are a long-term investor, you certainly have a reason to be in it and even if you are looking at short-term upmoves, getting next 12-15% move is fairly possible. So this will outperform."

Religare Enterprises touched an intraday high of Rs 476.40 and an intraday low of Rs 456. At 14:23 hrs the share was quoting at Rs 464.50, up Rs 8.45, or 1.85%. It was trading with volumes of 1,505,326 shares. Yesterday the share closed down 2.63% or Rs 12.30 at Rs 456.05.

First Published on Jan 5, 2011 02:25 pm
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