🏦 MFSL (Max Financial Services Ltd)

CMP: ₹1,592 | Change: +2.08% | Sector: Insurance & Financial Services Technical View:

has reversed from the ₹1,480 support zone and now trades above its 9-EMA, confirming a short-term bullish reversal. The Congestion Index has turned positive after a prolonged negative phase, signaling accumulation. Resistance lies near ₹1,650–₹1,670; support near ₹1,540. Sustaining above these levels may attract momentum buyers. Fundamental View: Max Financial, through Max Life Insurance, has strong distribution via Axis Bank and a growing ULIP and protection mix. Premium growth remains steady (~12% YoY) while VNB margin expansion continues. Valuations at ~2.4x embedded value are attractive versus peers. Analyst Rating: Consensus view remains BUY with a target of ₹1,820 (upside ~14%) and stop-loss ₹1,520. Analysts cite robust policy growth, bancassurance strength, and improving persistency ratios as key triggers.