Based on the OI percentage, 98 stocks, including Firstsource Solutions, Max Financial Services, Crompton Greaves Consumer Electricals, Oracle Financial, and Astral, witnessed a long unwinding.

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Based on the OI percentage, 62 stocks were on the short-covering list. These included Max Financial Services, Whirlpool of India, Voltas, Hindustan Aeronautics and MCX India.

Here is what the charts say about the shares of BHEL, Godrej Properties and Max Financial Services

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Based on the OI percentage, 72 stocks including MCX India, L&T Technology Services, Max Financial Services, ONGC, and Glenmark Pharma, saw a short build-up.

Based on the OI percentage, as many as 98 stocks including Polycab India, Max Financial Services, IndiaMART InterMESH, Gujarat Gas, and Adani Enterprises saw a long build-up.

Sharekhan is bullish on Max Financial Services has recommended buy rating on the stock with a target price of Rs 950 in its research report dated February 08, 2023.

Buy Max Financial Services; target of Rs 950: Sharekhan

Technically, prior to this announcement, the price structure of SBI Life Insurance Company and Max Financial Services were highlighting a bullish sentiment and were on the verge of the next up move

LIC, HDFC Life, SBI Life: Budget 2023 proposals dismantle bullish trends

Adani Ports & Special Economic Zone Ltd, Ambuja Cements Ltd, General Insurance Corporation of India and Max Financial Services Ltd are among the other losers in the BSE’s ‘A’ group today, 01 February 2023.

Adani Enterprises Ltd leads losers in ‘A’ group

Max Financial Services, the countrys largest non-bank private life insurance company, is the parent entity of Max Life Insurance in which Axis Bank is a co-promoter with 12.99 percent stake. Mitsubishi Sumitomo Insurance owns 21.86 percent in Max Financial Services. The Japanese group in 2012 bought…

PE firms Bain, CVC Capital among those circling around Max Financial to buy out promoter Analjit Singh

Max Financial Services Ltd saw volume of 7.41 lakh shares by 10:48 IST on BSE, a 17.83 fold spurt over two-week average daily volume of 41565 shares

Volumes jump at Max Financial Services Ltd counter

Sharekhan is bullish on Max Financial Services has recommended buy rating on the stock with a target price of Rs 1020 in its research report dated January 11, 2023.

Buy Max Financial Services; target of Rs 1020: Sharekhan

Price return has been average, nothing exciting

Performance

Seems to be overvalued vs the market average

Valuation

Lagging behind the market in financials growth

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Max Financial Services Limited is the holding company for Max Life Insurance Company Limited. The Company, through Max Life Insurance Company Limited, is engaged in the life insurance business.