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The stock of Metropolis Healthcare has been depreciating for over two months. It started to fall after facing resistance at ₹2,300. The latest leg of decline happened over the past week, where it broke below the support at ₹2,085.
However, the price action hints that the downtrend is losing momentum. Moreover, the stock has a strong support at ₹2,000 and the 200-day moving average lies at ₹1,950.
So, a decline below ₹1,950 is less likely. We expect a rebound between ₹1,950 and ₹2,000, which can take the stock to ₹2,200. So, participants can buy now at ₹2,012 and accumulate at ₹1,975. Place stop-loss at ₹1,930.
When the stock surpasses ₹2,085, trail the stop-loss to ₹2,000. On a rally to ₹2,150, alter the stop-loss to ₹2,090. Exit at ₹2,200.
(Note: The recommendations are based on technical analysis. There is a risk of loss in trading.)
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