Stop Loss: Rs 880
Target: Rs 800
The minor bounce back in this Hospital stock seems to have completed recently. The stock price has turned down sharply after forming a new lower top at Rs 950 a few weeks back. The stock is currently breaking down below the 200-day EMA at the Rs 860-850 levels. The negative volume and RSI patterns indicate more weakness ahead.
(Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)