MAXHEALTH trade ideas
MAX HEalthcare Bullish Or bearish1. 1 Day: Delivery volume increased by 125.98% over 5 day average
2. 1 Month: Delivery volume increased by 29.56%
FIIs
Held by 194 FIIs (16.67%)
Mutual Funds
Held in 18 Schemes (15.58%)
Increasing Revenue every Quarter for the past 4 Quarters
Company with Low Debt
Mutual Funds have increased holdings from 8.64% to 15.58% in Dec 2021 qtr.
FII/FPI have increased holdings from 14.23% to 16.67% in Dec 2021 qtr.
Institutional Investors have increased holdings from 22.93% to 32.35% in Dec 2021 qtr.
It will form a head and shoulder pattern , its based on Probaility ans the conditions are favouring its formation , like earning coming up in the period may hit the head of the pattern and will go down . target as shown in the chart
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MAX HealthcareBullish on Health Sector
-Max Healthcare is the second largest healthcare chain in India by revenue with a network of 17 Healthcare Facilities, including BLK Super Speciality Hospital and Nanavati Super Speciality Hospital.
- Cup & Handle Breakout retest on chart.
- FII & DII increase stake in sept qtr along with good amount of stock buy from Citi group & Kotak securities
MAXHEALTH Potential Intraday/1 Week SwingMAXHEALTH has been Consolidating near the Support zone which also seems to be a prior Resistance, looks good for potential upside of 5%-8%.
Reasons to be bullish on MAXHEALTH:
1.Resistance becoming support is a bullish signal.
2.Impulse move from these levels seen before.
3.RSI is on good levels leaving space for bulls.
4.MACD is turning bullish but not moving too much, we can see it as an accumulation phase.
5.The support level is also 31.8% fib support.
BUY AVOVE: 343
Already given a breakout on 1 Hour timeframe so entry can be taken.
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Breakout from channelMax has BO'd from channel and is up 6%. Targets are not market but 332, 381 for longer term can be next targets. Don't jump into the trade....if you have been following this stock you will see it has taken 4 supports and that is a good tradable setup for channels ( Investopedia.com). This is an idea, not a recommendation