METROPOLIS HEALTHCARE can give double-digit return in medium-term; here's why?

# Metropolis has lost 60% of its value, down to Rs 1355 from Rs 3579.9 in 8 months. This wave count shows a likely completed zigzag with the low between Fib support levels Rs 1355- Rs 1379.

A completed correction likely sees price moving to a highs.

On the weekly chart of Metropolis healthcare, we can observe that prices have shown a bounce on the upside since July 2022 while taking support from the previous July'20 level of 1341.

The weekly chart of Metropolis Healthcare shows that the stock has formed a small base around 78.6 percent Fibonnaci level of the prior swing from Rs 1341 (July'20) till Rs 3579.9 (Dec'21).

On the daily chart, the stock witnessed a nice volume build up from last couple of days, the stock was in a corrective phase from last Dec'21 to till date.

Metropolis Healthcare: Buy / LTP: Rs 1415 / Stop-loss: 1355 / Target: 1575, 1700

Return: 20 Percent

Exhibit 1: Elliott Wave Analysis

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