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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

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites, Derivatives, commodity and Currency can be substantial. ... Investment in markets is subject to market risk.


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