APOLLO HOSPITAL – Elliott Wave Structure + Breakout Opportunity Ahead
Apollo Hospitals is showing a textbook Elliott Wave formation, and we might just be at the beginning of a fresh impulsive rally. If you’re a swing trader or positional investor, this setup is worth keeping a close eye on.
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🧩 Elliott Wave Count Analysis
• The stock is in a larger degree 5-wave move (marked in green). Within that 1-4 completed and wave 5 in progress.
• Within that, we can also see a new 5-wave impulsive structure developing (in blue), and it seems like we just completed Wave (2) of this new leg.
• This means — Wave (3) could be starting now, which is usually the strongest and fastest wave.
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📈 Trade Setup
• Entry Zone: Around ₹7,165–₹7,215
• Stoploss: ₹6,677 (just below recent swing low and invalidation of the current wave count, Around 7-8% )
• Target 1: ₹7,925 (around 10%+ )
• Target 2: ₹8,710 (around 25%)
• Extended Target (Wave 3 Fibonacci Extension): ₹9,167
The targets are based on Fibonacci extension levels from Wave (1) to Wave (2), which typically project the length of Wave (3).
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🔍 Supporting Technicals
✅ Trendline Support
• Price has been respecting a long-term rising trendline since early 2022 — a strong sign of continued bullish momentum.
✅ RSI & Stochastics Turning Up
• RSI is rising but not overbought — suggesting more room for upside.
• Stochastic oscillator is also showing a bullish crossover, confirming early momentum for the next wave up.
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⚠️ Risk Management Note
If price drops below ₹6,677 and breaks the trendline, that would invalidate this Elliott wave count. It’s wise to exit or reduce exposure in that case. This is key to avoid being caught in a deeper corrective phase.
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📝 Summary:
Apollo Hospitals appears to be starting a fresh Wave (3) after completing a healthy correction. With a clean Elliott Wave structure, trendline support, and supportive indicators, the setup looks strong. Risk is clearly defined and the reward potential is high — a good case for a swing position.
⸻
💬 Are you tracking this Wave 3 setup too? Let’s hear your thoughts in the comments below!
Disclaimer:
This analysis is shared for educational and informational purposes only. It is not investment advice or a recommendation. Please consult a SEBI-registered financial advisor before making any investment decisions. The author is not responsible for any losses arising from trading or investing based on this analysis.
Apollo Hospitals is showing a textbook Elliott Wave formation, and we might just be at the beginning of a fresh impulsive rally. If you’re a swing trader or positional investor, this setup is worth keeping a close eye on.
⸻
🧩 Elliott Wave Count Analysis
• The stock is in a larger degree 5-wave move (marked in green). Within that 1-4 completed and wave 5 in progress.
• Within that, we can also see a new 5-wave impulsive structure developing (in blue), and it seems like we just completed Wave (2) of this new leg.
• This means — Wave (3) could be starting now, which is usually the strongest and fastest wave.
⸻
📈 Trade Setup
• Entry Zone: Around ₹7,165–₹7,215
• Stoploss: ₹6,677 (just below recent swing low and invalidation of the current wave count, Around 7-8% )
• Target 1: ₹7,925 (around 10%+ )
• Target 2: ₹8,710 (around 25%)
• Extended Target (Wave 3 Fibonacci Extension): ₹9,167
The targets are based on Fibonacci extension levels from Wave (1) to Wave (2), which typically project the length of Wave (3).
⸻
🔍 Supporting Technicals
✅ Trendline Support
• Price has been respecting a long-term rising trendline since early 2022 — a strong sign of continued bullish momentum.
✅ RSI & Stochastics Turning Up
• RSI is rising but not overbought — suggesting more room for upside.
• Stochastic oscillator is also showing a bullish crossover, confirming early momentum for the next wave up.
⸻
⚠️ Risk Management Note
If price drops below ₹6,677 and breaks the trendline, that would invalidate this Elliott wave count. It’s wise to exit or reduce exposure in that case. This is key to avoid being caught in a deeper corrective phase.
⸻
📝 Summary:
Apollo Hospitals appears to be starting a fresh Wave (3) after completing a healthy correction. With a clean Elliott Wave structure, trendline support, and supportive indicators, the setup looks strong. Risk is clearly defined and the reward potential is high — a good case for a swing position.
⸻
💬 Are you tracking this Wave 3 setup too? Let’s hear your thoughts in the comments below!
Disclaimer:
This analysis is shared for educational and informational purposes only. It is not investment advice or a recommendation. Please consult a SEBI-registered financial advisor before making any investment decisions. The author is not responsible for any losses arising from trading or investing based on this analysis.
Trade active
Trade Active Trade closed: target reached
Target 1 reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.