Narayana Hrudayalaya (NH) has witnessed a strong breakout above its earlier resistance zone near Rs 1868, closing the month at Rs 1977.40—a sharp 13.39% monthly gain.
The stock remains in a strong structural uptrend, but the breakout candle is exceptionally large, signaling an overheated move and a less favorable risk-reward for fresh entries.
Chasing at current levels could expose traders to drawdowns, especially with RSI nearing the overbought zone.
For a more balanced entry, it is advisable to wait for dips near key supports at Rs 1865 (former resistance turned support), Rs 1720 (last month’s low), and Rs 1580 (intermediate support zone). The stock has upside targets of Rs 2100–2200 in the medium term.
Disclaimer: BEL was earlier shared as a BTST call on Friday, and Aditya Birla Capital was recommended as an intraday call, having been shared multiple times over the past week.
Analyst Disclaimer: The securities mentioned above are for illustration purposes only and should not be construed as investment recommendations.
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