A classic Volatility Contraction Pattern (VCP) breakout spotted on the daily chart of Max Healthcare!
-6 months of tight consolidation with multiple contraction phases
-RSI > 65 and rising – strong bullish momentum
-Breakout above resistance after multiple rejections (marked with red arrows)
-Volume spike confirms institutional buying
-Trading above EMA50 – trend support holds firm
Watch Zone: ₹1,230+
Support: ₹1,140 / EMA50
Targets (if trend sustains): ₹1,350 / ₹1,500+
Always DYOR (Do Your Own Research) before investing.
-6 months of tight consolidation with multiple contraction phases
-RSI > 65 and rising – strong bullish momentum
-Breakout above resistance after multiple rejections (marked with red arrows)
-Volume spike confirms institutional buying
-Trading above EMA50 – trend support holds firm
Watch Zone: ₹1,230+
Support: ₹1,140 / EMA50
Targets (if trend sustains): ₹1,350 / ₹1,500+
Always DYOR (Do Your Own Research) before investing.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.