Fortis Malar, Lal Path Labs: Diagnostic and healthcare stocks on the charts

Stocks of diagnostic chains and hospitals have been in focus as Covid-19 pandemic spread across the country. Is it a good strategy to stay put in these counters? Here's what the charts suggest

Dr. Lal Path Labs Ltd (LALPATHLAB): The stock is quite stable above the 200-days moving average (DMA) though has not been able to show a strong positive move off-late. The bigger picture illustrates a strong selling pressure above Rs 1,700 levels and is likely to sideways for now, as per the daily chart. The support remains at Rs 1,521, which is its 200-DMA. CLICK HERE FOR THE CHART

Metropolis Healthcare Ltd (METROPOLIS):  The daily chart clearly indicates a resistance at 100-DMA located at Rs 1,471 levels. The support remains at 200-DMA, placed at Rs 1,417 levels on a closing basis. If the counter closes below this level, it may slide towards Rs 1,322, which is its 50-DMA. The overall trend may see sellers getting active on a dip below 200-DMA. CLICK HERE FOR THE CHART

Thyrocare Technologies Ltd (THYROCARE): It has been in a consolidation phase from the last two months. On the higher side, Rs 590 has become the resistance, whereas Rs 480 is acting as support on the lower side. The overall trend does not indicate any major rally, as the volume remains subdued. The immediate support is at Rs 500 levels. CLICK HERE FOR THE CHART
 

Fortis Malar Hospitals Ltd : The stock needs to close decisively above Rs 48 level to show positive upside, as per the weekly chart. Volumes have remained moderate and the price is not showing any exciting moves. The support remains at Rs 40. CLICK HERE FOR THE CHART

Apollo Hospitals Enterprise Ltd (APOLLOHOSP):  The downside is capped at the support of 50-DMA, placed at 1,350 levels. The overall trend remasin positive as the Moving Average Convergence Divergence (MACD) is gradually rising above the zero line. The immediate support comes in at Rs 1,390 levels. A rally can take it higher towards Rs 1,440 – Rs 1,450 levels. CLICK HERE FOR THE CHART
 
Indraprastha Medical Corporation Limited (INDRAMEDCO): The stock is trading near its lifetime high of Rs 66.35 levels. The volumes. too, have increased significantly in the last two sessions. If this counter makes a new lifetime high, then a further upside towards Rs 75 and 80 levels cannot be ruled out. The overall trend remains positive for now. CLICK HERE FOR THE CHART