Dr Lal PathLabs, Metropolis: Here's how healthcare stocks look on charts

Thyrocare Technologies has the strong support of 50-DMA, currently placed at Rs 988 levels.

Shares of diagnostic and healthcare services firms such as Metropolis Healthcare, Dr Lal PathLabs, and Thyrocare Technologies were trading in the positive territory on Tuesday, a day after the Maharashtra government imposed restrictions on all air and rail passengers arriving from Delhi, Gujarat, Rajasthan, and Goa. Passengers travelling from these states — which have seen a significant surge in cases — will have to obtain a negative RT-PCR test report before starting. READ MORE

Among individual stocks, Dr Dr Lal PathLabs rallied as much as 3.57 per cent to Rs 2,375.95 on the BSE while Metropolis Healthcare hit an all-time high of Rs 2,291.60. Thyrocare Technologies, on the other hand, gained over 6 per cent to Rs 1,156.55. In comparison, the benchmark S&P BSE Sensex traded around 0.6 per cent higher. 

So, what lies ahead for these stocks? Take a look at what charts suggest. 

Dr. Lal Path Labs Ltd (LALPATHLAB): In the recent healthy correction, the counter witnessed strong buying and accumulation around Rs 2,100 levels, which is its 50-day moving average (DMA). The weekly chart suggests a closing basis support of Rs 2,050 and an upside bias towards the direction of Rs 2,500 to Rs 2,650 levels. The immediate support comes in at Rs 2,250 and Rs 2,180 level, as per the daily chart. On the higher side, an overwhelming close above Rs 2,350 may see a strong increase in volumes.  CLICK HERE FOR THE CHART
 
Metropolis Healthcare Ltd (METROPOLIS): After scaling a new all-time high of Rs 2,294, the sentiment is bullish for this counter. It has successfully conquered the firm selling pressure range of Rs 2,110 to Rs 2,040. This breakout is indicating a rally towards Rs 2,500 levels. And till the counter defends Rs 2,100 levels on a closing basis, the medium-term outlook may see higher levels of Rs 2,900, as per the daily chart. The Relative Strength Index (RSI) has entered the overbought condition, yet the stock price is not witnessing any major sell-off. CLICK HERE FOR THE CHART
 
Thyrocare Technologies Ltd (THYROCARE): This counter has a strong support of 50-DMA, currently placed at Rs 988 levels. In the last 10 sessions, whenever it dipped near the moving average, it managed to gain buying momentum. This clearly indicates that till the moving average is defended successfully, the upside bias may see Rs 1,250 to Rs 1,320 levels in the coming sessions. CLICK HERE FOR THE CHART