MAXHEALTH trade ideas
MAX HEALTHCARE - Short-term Trend AnalysisMAX HEALTHCARE - Short-term Trend Analysis - Price action
1. Good breakout happen a week ago, and now at the retracement lower level.
2. Should not breach this level, it breach means it will be on the downtrend.
3. If the stock opens and closes above 376, then the stock 1st target will be 388 and the 2nd target is 420
4. Only for the swing trade, strictly not for the long term.... since stocks trading at 5.69 times their book value.
Note:
1. I’m not a SEBI Registered advisor, my research is personal and for educational purposes only.
2. Always check with your financial advisor and take the trade as per your risk/reward ratio.
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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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