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RELIGARE - MONTHLY CHART (INTERESTING PATTERN - NO TRADE YET)

RELIGARE ENTERPRIS (NSE:RELIGARE)  
Stock-n-Shine  
NSE:RELIGARE   RELIGARE ENTERPRIS
Support and Resistance Supply and Demand Trend Lines Supply Zone supply_and_demand supplyandemandzones supplydemandanalytics supplyanddemandanalysics supplydemandimbalance supplydistribution priceactionanalysis
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supportandresistance supplyanddemand trendline supplyzone supply_and_demand supplyandemandzones supplydemandanalytics supplyanddemandanalysics supplydemandimbalance supplydistribution priceactionanalysis
This chart is extremely interesting to study

Look at the pattern

During first contraction, there was a huge supply which took the price to abyss levels of 17 from levels of 280. The contraction measured 91% as per the scale

Second contraction supply got limited to only 50% retracement & in the third it was only 28%

This shows diminishing supply pattern.

Price action give a successful breakout but went into consolidation. The least line of resistance is 285 & it should be kept on radar
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