Chart of the week. Aster DM Healthcare.This chart came on my chart on 15 July 22 when it was trading @213 . Today I am recommending to average this stock again @ 268 . The chart is looking more strong and it is worth adding more. Now one should add more for the targets of 360, 460 and 530 on weekly basis . There will be resistances in this journey but one should hold this stock with faith and long vision . A comparative analysis of technical and fundamentals is already done in my last blog, hence I am not repeating it. I have not given any SL as we have taken position before. New entrants would keep a SL of 235 on weekly basis.
CMP - 268 W (5/11/22)
T - 285, 360 W
View - Medium to Long term.
ASTERDM trade ideas
Aster DM Healthcare193.5 was all time high of Aster DM Healthcare. In August 21, the stock had given breakout above ATH and since then the stock is consolidating on parallel downward channel which is visible by pick lines. This week, however, the stock has given a breakout of that range and successfully closed above it with good volume. Now one can enter in to stock considering the consolidation is over. The reason I am recommending this stock is possibility of trading under a blue sky. The stock consistently given a great results over the period of years and it is one of the very well know MNC in healthcare business. Therefore, this is a very good Techno-Funda pick too. If anyone wants to take positions, please keep a strict stop loss given.
CMP - 213 W (15/7/22)
T - 246, 300 W
SL - 195 W
View - Medium term.
ASTERDMNSE:ASTERDM
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Aster DM Healthcare breakout Aster DM Healthcare Limited is a publicly-traded Indian conglomerate health care provider founded in 1987 by Azad Moopen who hails from Kerala, India. The company is registered in India. Aster DM Healthcare currently operates hospitals, diagnostic centers, medical centers, and pharmacies in the India and the Middle East. Wikipedia
Stock price: ASTERDM (NSE) ₹199.10 +18.15 (+10.03%)
ASTERDMNSE:ASTERDM
Please note that we are not a SEBI Registered Investor Adviser/PMS/ Broking House.
All the contents over here are for educational purposes only and are not investment advice or recommendations
offered to any person(s) with respect to the purchase or sale of the stocks / futures and options.
You are also requested to apply your prudence and consult your advisers in case you choose to act on
any such content available as WE claims no responsibilities for any of your actions or any outcome of
such action
AsterDM - Sell On RISE - RS triangle converging- It was a good R/R trade earlier but it went against expectation.
- AVWAP giving strong resistance and its become a sell on RISE trade.
- RS triangle is converging, there is a chance that downward sloping RS line might get hit, that would be the chance to exit.
- RS still at support. Hospitals are in good favor.
- Risk was set high due to the high volatility.