India News: NEW DELHI: Religare has undergone a remarkable transformation, emerging as a diversified financial services conglomerate known as 'Religare 2.
Religare Enterprises stock has given a return of 23.25 percent over the last six months. The benchmark Nifty50 index has given a return of 12.52 percent over the same duration.
While no one is yet expecting Nifty to repeat 2023-like 20% annual return, the consensus target seems to be hovering around the 23,000-mark as most of the positives expected in the new year are already priced in.
The sentiment remains optimistic as the index stays above critical moving averages. At 21,500, there could be significant immediate resistance. A decisive breakout beyond this level could potentially propel the index into a substantial rally. Until then, the index is expected to remain within the range of 21,300 and 21,500.