trending stock, Max Healthcare became the top trending stock in Wednesday’s market – top trending stock max healthcare institution

Mumbai – Indian markets traded flat on Wednesday due to mixed global cues. Stock-specific action is in focus as quality midcap and smallcap stocks are strongly bought.

Meanwhile, shares of Max Healthcare Institute rose 5% in the opening hours of Wednesday’s trading session. Also it has increased by more than 15% in last 2 weeks. Interestingly, the stock has hit a new all-time high of Rs 482.70 on the national stock market.

Technically the stock has come out of its bearish trend in the last week and since then has recorded a huge increase in its trading volume. All its moving averages are in the uptrend and show bullish momentum from it. The 14-period daily RSI (74.41) is bullish and indicates bullishness for the stock. The 14-day ADX (21.23) is pointing north and indicates good trend strength. The MACD histogram is rising and shows the potential to reach an excellent upside. OBV is at its peak and has strong strength from the perspective of share trading volume.

In short, this company stock is expected to continue its short-term momentum.

Max Healthcare is a leading healthcare organization providing high quality services and engaged in home care business and health diagnostic services. In its second quarter results of the current financial year, net profit grew by 216% year-on-year to Rs. 144.63 crores. While revenue increased by 11% to Rs. 1,137 crores.

With bullish technical parameters and strong fundamentals, long-term investors should keep this stock on their watchlist to track its further development.