Current Price: 747.75/- Target Price: 847,947,1057/- Stop loss: 612
Ticker: NSE: Med plus Health Recommendation: BUY (Buy @ Current Price)
Date: 11/12/2023
Highlights
We issue a Buy recommendation on Med plus Health Services ltd. Based on a 6 -weeks Target price of 847,947,1057/-, offering a 26.7% upside potential from its closing price of 747.75/- on 11/12/2023. Our recommendation is primarily driven by Elliott wave theory:
Elliott Wave Theory Outlook –Med plus Health Services ltd, Buy @ Current market price
December 11, 2023 By Dinesh Naidu
Hello traders. In this technical research report we’re going to take a quick look at the Elliott wave chart of Whirlpool India ltd. As our members know, the stock is showing impulsive bullish sequences that are calling for further strength. Our team recommended members to avoid selling, while keep favoring the long side. Recently we are in an Impulsive structure in a Daily time frame.
The stock has already given us wave ((B)) pull back that has unfolded as Zigzag A-B-C pattern in a daily min’s time frame. The price might reach extreme zone at 947-1057.25, We don’t recommend selling the stock and prefer the long side from the 100 & 123.6% Fib extension levels. As the intermediate trend might turn bearish in a lower time frame, we expect to see at least 3 waves bounce from our buying zone. Once price bounce reaches 100% Fib against the (wave 3) high, we will make long position risk free (put SL at Breakeven) and take partial profits. Invalidation for the long trades is at 612 level.
Disclaimer: I am not a SEBI Registered Research Analyst. The information provided here is for education purpose only. I will not be responsible for any of your Profit/Loss with this recommendation. Consult your financial advisor before taking any decisions.
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