MAX HEALTHCARE INS LTD

13 ore fa

The stock is currently in a strong uptrend, moving within a well-defined ascending channel and respecting both the upper and lower trendlines, indicating sustained bullish momentum. The lower trendline, around INR 950–1,000, serves as a critical support zone and presents an ideal buy level, offering a favorable risk-reward ratio. Immediate support lies around INR 1,050–1,080, which can also be considered for short-term entries. The RSI, currently above 70, suggests overbought conditions, signaling a possible correction or consolidation before the next upward move. A pullback to the lower channel, especially if accompanied by increased volume and RSI levels near 40–50, would strengthen the case for a buy. To minimize risk, a stop-loss can be placed slightly below the channel boundary. Waiting for a retracement or consolidation phase near these levels, coupled with confirmations from other indicators like moving averages or candlestick patterns, can enhance the quality of the entry point.