Max Healthcare Institute Limited (MAXHEALTH) Stock - Complete Technical Analysis - Oct 07, 2024

Max Healthcare Institute Ltd: Technical Analysis & Trading Insights NSE Stocks

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Max Healthcare Institute Limited (MAXHEALTH) is currently trading at 916.40, which reflects a notable position18.03% below its 52-week high of 1118.0 and a substantial 70.13% above its 52-week low of 538.65. The stock's recent trading activity shows a mix of volatility and reversals, with the price experiencing fluctuations over the past week. On October 7, it opened at 930.30, dipped to a low of 912.00, and peaked at 944.95 before closing at 916.40. This pattern highlights the current weakness, with significant price drops from the previous day's close at 926.35. The average directional index (ADX) is at 32.03, indicating a strong trend, while the RSI of 43.48 suggests the stock is currently in a neutral zone, approaching oversold territory.

The moving averages, including the 10-day EMA at 958.52 and the 20-day SMA at 958.94, provide critical support levels, with the price currently trading below these averages. The Hull Moving Average at 917.03 also supports this level. Resistance is expected near the classic pivot point of 988.0. Sudden price drops were observed with the recent high of 944.95, reinforcing a potential bearish sentiment as traders may see this as a resistance area.

Volatility remains a key observation, with the Average True Range (ATR) reflecting significant price movements. Traders should watch for potential reversals around support at 912.00, as indicated by the low during the recent trading day, while the classic and Fibonacci pivot levels suggest that the stock may retest resistance levels near 988.0 in the near term. Overall, MAXHEALTH presents a complex landscape for traders, requiring careful observation of price action and key technical indicators to navigate potential entry and exit points effectively.