BREAKOUT WITH HIGHER VOLUME IN MEDPLUS HEALTH...NSE:MEDPLUS trade at 720 level. Stocks give a trendline breakout with higher volume. You can watch for a big upside move at 900-1000
MEDPLUS
SWING IDEA - MEDPLUS HEALTHStock seems to be in a very good buying and could potentially witness an upside rally.
Reasons are stated below :
750-780 is a very strong support zone.
Doji candle formed on daily timeframe.
200EMA support on daily timeframe.
50EMA support on daily timeframe.
Stock is in an uptrend.
Higher-high formation.
TARGET : 848 // 911 // 975 // 1130 // 1342
SL : DAILY CANDLE CLOSE BELOW 750
Medplus Health Services Ltd positional setup with 80% gainsChart is self explanatory.
Borrowings seem concerning initially but those are lease liabilities.
Fundamentally overvalued but turnaround potential is there.
India's second largest pharmacy retailer with 4089 stores and expanding.
Do your own due diligence before taking any action.
Peace!!
ready to cross 900 soon.Based on macd and SMA ready to cross 900 soon. Simple moving average is ready to cross 900 supported by MACD also
Medplus looking looking strongMedplus Health Services Ltd. is the 2nd largest pharmacy retail chain in India. The company is engaged in manufacturing of private label pharmaceuticals, wellness & FMCG products. It also offers clinical laboratory services & physical consultation services. Medplus operates in more than 3000 pharmacy stores across 374 cities.
Medplus Health Services CMP is 813.10. Negative aspects of the company are high valuation (P.E. = 195), declining annual net profits & high promoter pledge. Positive aspects of the company are improving cash from operations annual, FIIs are increasing stake, MFs are increasing stake & no debt.
Entry after closing above 828. Targets in the stock will be 871, 945 & 999. Long term target in the stock will be 1051 & 1341. Stop loss in the stock should be maintained at closing below 745.
MEDPLUS HEALTH SERVICE IS AT A BREAKOUTNSE:MEDPLUS is at a range of breakout, at price 780, once the breakout happens MedPlus health may see an upward momentum upto 940 with a stoploss of 673 with a risk to reward ratio of 1:1.5.
Thanks....!
this is just my analysis
