Max Healthcare is showing VCP pattern Breakout and retest. First Correction was deep upto -22.71 %, followed by second Correction of -11.91% and third correction of 7.12% approx before it finally breakout. Market has tendency to trap breakout traders therefore it again retraced below breakout candle for final sucessfull retest on 20 June. Fundamentally stock is good but given the recent turn of world events i.e., USA entry in middle east crises, I am conservative in my apporach and looking for one more small base formation before I make final entry in stock with proper risk management.
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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.