Stock Radar: Insurance stocks look attractive; Max Financial Services could hit fresh 52-week highs

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Ajit Mishra, SVP - Technical Research of Religare Broking, recommended traders to buy for a target of Rs 1,400 in the next 2-4 months and keep a stop loss below Rs 980 on a closing basis.

Synopsis

Max Financial Services experienced a decline from July 2024 highs but rebounded after consolidating for eight months. Experts suggest high-risk traders target Rs 1,400, as the stock broke resistance levels between 1,069 and 1,080. They recommend buying during dips towards this range, aiming for gains over the next 2-4 months.

Max Financial Services, a part of the life insurance industry, might have come off slightly from July 2024 highs but it has rebounded from the neckline of the 8-month consolidation range.Short-term traders with a high risk profile can look to buy the stock for a target of Rs 1,400 in the next 2-4 months, suggested experts. Most of the pharma stocks are in action amid volatility seen in benchmark indices, they said.The stock has moved in a narrow

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ETMarkets.com

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