Buy, Sell or Hold: What should investors do with Metropolis Healthcare, Apollo Hospitals & Thermax?

Indian market remained volatile on Monday but managed to recoup losses and closed with minor gains. The Nifty50 closed above 18100 levels.

Sectorally, buying was seen in healthcare, FMCG, consumer durables, and IT stocks while selling was seen in metals, telecom, and energy stocks.

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Stocks that were in focus include Metropolis Healthcare that closed with gains of nearly 8 per cent, Apollo Hospitals ended with gains of nearly 9 per cent, and Thermax ended with gains of over 6 per cent.

Here's what Jatin Gohil, Technical Analyst at Reliance Securities, recommends investors should do with these stocks when the market resumes trading today:

Metropolis Healthcare: Buy

The stock surpassed its previous top of 3,240 with strong volumes and positive price momentum. It has given a breakout from its W pattern holding its medium-term averages over the past 4 months.

We believe that the current up move can extend further for a higher target of 3,600 levels over the next few weeks.
 
Apollo Hospitals: Buy on dips

The stock closed just 1 per cent away from its all-time high and gained by 9 per cent on the back of strong results and follow-up breakout.

RSI has moved higher to 82 levels after a consistent up move over the past 2 weeks from the lower range of 4000 levels.

We expect the stock to scale a new 52 week high and expect some time correction over the next few days.

Any decline near to last week close of 4,660 would be a good opportunity to add for a target of 5,600 levels.

Thermax: Book Profits

A strong outperformance in price on the back of strong results and breakout of its confluence of averages over the past 3 trading sessions.

Price momentum and volume will dry up over the next few weeks after a sharp-up move as witnessed in the past.

Short-term traders should book profits at current levels and wait for the decline to enter.

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)