Systematix Shares and Stocks (India) in a technical note on Wednesday suggested buying shares of Star Health and Allied Insurance Company Ltd for near-term upside. The Rekha Jhunjhunwala-promoted company has seen its shares rising 11.39 per cent in the past three and 36.17 per cent in the past six months. Advertisement

Systematix said the stock has exhibited strong technical momentum, confirming a bullish breakout of an Inverted Head and Shoulders pattern on the daily chart, a classic reversal formation that often signals the beginning of an upward trend.

The breakout, it said, was accompanied by a large bullish candlestick with a wide body and above-average trading volume, underscoring strong participation from buyers and confirming the reliability of the move.

The stock settled 4.13

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