Key Events This Week
2 Feb: Stock opens lower at Rs.235.55 amid broader market weakness
3 Feb: Intraday high of Rs.252.85 with a 7.07% surge
4 Feb: Mixed technical signals emerge despite 7.20% price gain
5 Feb: Price dips 1.43% to Rs.254.25 on lower volume
6 Feb: Week closes at Rs.246.10, down 3.21% on the day
Monday, 2 February 2026: Weak Start Amid Market Decline
Religare Enterprises Ltd began the week at Rs.235.55, down 0.97% from the previous Friday’s close of Rs.237.85. This decline mirrored the broader market, with the Sensex falling 1.03% to 35,814.09. The stock’s volume was moderate at 50,771 shares, reflecting cautious investor sentiment amid a weak market backdrop. The initial dip set a subdued tone for the stock’s early week performance.
Tuesday, 3 February 2026: Sharp Rally on Intraday High and Outperformance
On 3 February, the stock rebounded strongly, surging 7.26% to close at Rs.252.65. It reached an intraday high of Rs.252.85, marking a 7.34% increase from the prior close. This rally significantly outpaced the Sensex’s 2.63% gain, highlighting robust buying interest. The stock opened with a 2.89% gap up, signalling early bullish momentum. Despite the broader NBFC sector advancing 3.67%, Religare Enterprises Ltd outperformed with a 7.07% day gain, supported by its position above all major moving averages (5, 20, 50, 100, and 200 days). This strong technical positioning underscored the stock’s resilience amid a mixed market environment.
Handpicked from 50, scrutinized by experts – Our recent selection, this Mid Cap from Bank - Public, is already delivering results. Don't miss next month's pick!
- - Expert-scrutinized selection
- - Already delivering results
- - Monthly focused approach
Wednesday, 4 February 2026: Mixed Technical Signals Amid Continued Gains
The stock continued its upward trajectory on 4 February, closing at Rs.257.95, a 2.10% gain from the previous day. Despite this price appreciation, technical indicators presented a nuanced picture. The Moving Average Convergence Divergence (MACD) remained bearish on the weekly chart but improved to mildly bearish on the monthly chart. The Relative Strength Index (RSI) was neutral, indicating consolidation. Meanwhile, Bollinger Bands suggested bullish momentum expansion. Daily moving averages were mildly bearish, and the Know Sure Thing (KST) indicator showed bearish trends on weekly and monthly charts. On-Balance Volume (OBV) was mildly bullish weekly but unclear monthly. This blend of signals pointed to a cautious outlook despite the strong price move, reflecting a complex momentum shift.
Thursday, 5 February 2026: Price Correction on Lower Volume
Religare Enterprises Ltd experienced a mild pullback on 5 February, declining 1.43% to Rs.254.25. The volume dropped sharply to 11,026 shares, indicating reduced trading activity. The Sensex also declined 0.53% on the day, closing at 36,695.11. This correction followed the prior two days’ strong gains and aligned with the mixed technical signals observed earlier. The stock’s retreat below the previous day’s high suggested profit-taking or consolidation after the recent rally.
Why settle for Religare Enterprises Ltd? SwitchER evaluates this small-cap against peers, other sectors, and market caps to find you superior investment opportunities!
- - Comprehensive evaluation done
- - Superior opportunities identified
- - Smart switching enabled
Friday, 6 February 2026: Week Ends with a Sharp Decline
The week concluded with a notable decline of 3.21%, as the stock closed at Rs.246.10 on 6 February. Volume rebounded to 30,526 shares, reflecting renewed selling pressure. The Sensex edged up 0.10% to 36,730.20, contrasting with the stock’s fall. This late-week weakness trimmed some of the earlier gains but still left the stock with a positive weekly return of 3.47%. The price drop on higher volume suggests caution among traders, possibly in response to the mixed technical backdrop and the stock’s downgraded Mojo Grade of Sell with a score of 37.0.
Daily Price Comparison: Religare Enterprises Ltd vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-02 | Rs.235.55 | -0.97% | 35,814.09 | -1.03% |
| 2026-02-03 | Rs.252.65 | +7.26% | 36,755.96 | +2.63% |
| 2026-02-04 | Rs.257.95 | +2.10% | 36,890.21 | +0.37% |
| 2026-02-05 | Rs.254.25 | -1.43% | 36,695.11 | -0.53% |
| 2026-02-06 | Rs.246.10 | -3.21% | 36,730.20 | +0.10% |
Key Takeaways
Positive Signals: The stock demonstrated strong midweek gains, notably on 3 February with a 7.07% surge and an intraday high of Rs.252.85, outperforming both the Sensex and the NBFC sector. Technical positioning above all major moving averages during this rally indicated robust short-term momentum. The weekly gain of 3.47% exceeded the Sensex’s 1.51%, reflecting relative strength.
Cautionary Signals: Despite price gains, technical indicators presented mixed and mildly bearish signals, including a bearish MACD on weekly charts and neutral RSI readings. The stock’s Mojo Grade remains a Sell with a score of 37.0, reflecting underlying fundamental and technical concerns. The late-week decline on increased volume suggests profit-taking or emerging selling pressure. The stock’s longer-term returns lag the Sensex, and the 10-year performance remains negative.
Conclusion
Religare Enterprises Ltd’s week was characterised by a volatile price trajectory, with a strong midweek rally followed by a retreat in the final sessions. The stock outperformed the Sensex overall, supported by technical strength and sector outperformance early in the week. However, mixed technical signals and a downgraded Mojo Grade advise caution. Investors should monitor the stock’s ability to sustain gains above key moving averages and watch for confirmation from momentum indicators before considering a more optimistic stance. The current environment suggests a balance between short-term opportunities and the need for prudent risk management.
Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →
