Stock name: Narayana Hrudayalaya Ltd.
Pattern: Resistance and reversal
Time frame: Daily
Observation:
Since November 2023, the stock has been trading sideways, forming a parallel channel on the daily chart. In January 2025, it touched the resistance line and reversed, accompanied by strong trading volumes. A series of red candles followed, signalling rapid downward movement. If this momentum persists, technical analysis suggests the stock may decline further. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
Stock name: Metropolis Healthcare Ltd.
Pattern: Double top pattern
Time frame: Daily
Observation:
The stock has been on an upward trend since May 2023. Between August 2024 and January 2025, it formed a double top pattern on the daily chart. On January 3, the stock broke down from the pattern with strong trading volumes but quickly retested the breakdown level. It has since resumed its descent with multiple red candles, and if the current momentum persists, technical analysis indicates that it may decline further. It's advisable to look for additional confirmations, such as RSI levels and the MACD indicator.
You may add this to your watch list to understand further price action.
Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.
