Breakout and consolidation in an uptrend. The volume in consolidation is less. After breakout above the slanting trendline, the uptrend is likely to continue.
📊 Pattern: Rising Wedge
📌 Symbol/Asset: Aster DM Healthcare
🔍 Description: Stock can touch lows of ~287 in the coming days
👉 Remember: Technical patterns are just one piece of the puzzle. Consider conducting further research, consulting with a financial advisor, and managing your risks appropriately.
Please look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
For long-term trades look out for resistance drawn above closing.
Please consider these ideas for educational purpose
Aster DM came on my chart 2 weeks before, however, this week the breakout is confirmed. This is a MNC and have a very good management. Healthcare sector is in boom and the stock is currently trading in blue sky. Target and SL is amended as per todays weekly close.
CMP - 282 W (5/11/22)
T - 360 W
SL - 255 W
Private Healthcare :-
Emerging player in India through its network of 27 hospitals, 120 clinics, 371 pharmacies, 14 labs & 100 patient experience centers as on March 31, 2022
Market Cap ₹ 13,212 Cr.
Debt to equity 1.37
Stock P/E 24.0
Price to book value 3.69
Pledged percentage 10.4 %
Target as mentioned in chart
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...
Whenever stock moves in particularly range for a few year, week or days it called DARVAS BOX.
once price decided to break box then gets good price movement it would be upper side or lower side.
193.5 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...
