Buy Aster DM Healthcare For 16% Potential Gains In 3 Months: HDFC Securities

Benchmark Indian indices have tumbled a great deal on weak global cues with Nifty sliding to 17,617 levels on January 21, 2022. Meanwhile, broader markets underperformed the headline indices with Nifty Midcap 100 collapsing 2.4%.

Amid this market landscape, brokerage firm HDFC Securities has placed its Buy recommendation on Aster DM Healthcare for 3 months.

Aster DM Healthcare- Buy Aster DM for a target of Rs. 220

The stock has been listed as the brokerage's MTF pick to be bought with a target of Rs. 220. Considering the stock's last traded price of Rs. 189.65, this equates to a potential upside of 16%. Stop loss recommended is Rs. 177.

Brokerage’s observation on Aster DM

The weekly timeframe chart of health care stock ASTERDM signal an upside bounce in this week after a consolidation of last week.

The stock price has witnessed a false downside breakout of the crucial support at Rs 180 in later part of Dec-21 and bounced back from the lows.

Presently, the stock price is expected to move towards the important hurdle breakout of Rs 198-200 levels in the short term (down sloping trend line, connecting previous lower highs).

A sustainable move above this area could open a sharp upside momentum in the stock price ahead.

The volume has started to expand and weekly RSI shows positive indication. The overall chart pattern of Aster DM indicates a long trading opportunity.

About Aster DM Healthcare

Aster DM Healthcare Private Limited, a healthcare conglomerate, operates hospitals, diagnostic centers, medical centers, and pharmacies in the Middle East and India. The company offers primary, secondary, and tertiary healthcare treatment together with management and consultancy services. The company provides services in areas, such as cardiology, dental, dermatology, dietetics, endocrinology and diabetology, ENT, gastroenterology, general medicine, general surgery, gynaecology, neurology, ophthalmology, orthopedics, pediatrics, psychiatry, pulmonology, and urology.

Disclaimer:

The stock has been picked from the brokerage report of HDFC Securities. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution. Greynium Information Technologies, the author, and the brokerage house are not liable for any losses caused as a result of decisions based on the article. Ads by