#MAXHEALTH NSE: MAXHEALTH CMP 244.90 Target : 271 SL 228 RR Ratio > 1.5 Time Frame < 45D
Factors: Trend Following Rising Volume with rising Prices. Flag pattern breakout. Pennant Pattern Breakout with Bullish Candle. Retest Successful. Higher Highs & Higher Lows. Broken above RESISTANCE levels Trading at SUPPORT levels Earnings are strong. Bullish Wedge Breakout Risk Return Ratio is healthy. And Rising from Double Bottom Pattern to Flag Pattern forming.
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@Nirajkarma, I understand it is difficult to stay in a losing trade and I wont give u false hopes but, the stock wont perform rapidly. It might take a lot of time to break the high. Hold on for a week or two.
Else If this is like opportunity cost, then u can book whatever u are getting and enter a new trade.
I am still bullish.
Nirajkarma
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@Rachit_Sethia, yup thinking the if it sustains over 230-235 levels then I can hold. is it good? and what's your view on its P/E.?
Nirajkarma
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I also did the same breakout analysis but have you seen today's candle? What's your view?
Rachit_Sethia
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@Nirajkarma, Do not worry about the prices. If it did not have to breakout, it wouldnt broken. But now, as its broken, the rise is definite. Do not battle against prices.
Also, because of the last candle, it seems that the stock will be a slow performer. The prices will rise but at a very slow speed. Good luck!
Nirajkarma
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@Rachit_Sethia, yup. Thanks. BTW I also took a position before the breakout at 228. Expecting good returns by next Quarter.
Rachit_Sethia
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@Nirajkarma, The stock is targeting 260-65 in some time. U might get to see 270. Because of the weirdd candle on the last trading date, i feel its good to book in parts near 265 or trail the stop loss..