Apollo Hospitals - Use the bounce 1220-1245 to exit

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Someone followed me so desperately (can't count- how many times) that I was forced to do the analysis. Thanks to that follower for not giving up. Cheers for him/her

Timing is an issue for me & I try best to make most of them happy, but due to work pressure I fail to do so. Hope, you all will understand.


The fall from 1545 has completed 1st set of intermediate complex correction at 1111 - (W)-Green Wave. A corrective bounce was seen to 1345-1355 where minor wave-X(Blue wave) within 1st set of intermediate correction (W) also ended.
This minor wave X took the shape of triangle & gave us key & critical zone 1345-1355.

This corrective bounce gave the 2nd leg of Intermediate correction- (X)- Green Wave so it is very important zone & hence key & critical zone for future trading.

Any move above this zone of 1345-1355 should be seen as a confirmation point & start of new uptrend.

From short term scenario & 1344 high -the fall is impulsive, which looks to complete a clean 5 wave sequence as shown below in 2 hour chart.

Polarity zone of 1220-1245 - An important zone
Polarity zone means once acting as support zone started acting as resistance & vice-versa(shown as green & red arrows). So any move in the zone 1220-1245 if prices face resistance & fails to move beyond that zone, then that zone should be used to exit.

Trading Strategy

Short Term Scenario -
An impulsive sequence from 1344 to 1146 lows looks in place as divergence is quite visible. So, we shall look for a bounce in the polarity reversal zone of 1220-1245- if it faces resistance & gets rejected in that zone then one should use to exit & wait for further down move which can be used at later duration as buying opportunity.

Long Term Scenario -
Once Intermediate Wave Sequence (W)-(X)-(Y) Green Wave Sequence is done, which likely looks as one leg upside in 1220-1245 zone & falling later to finish the sequence can be a better opportunity to buy in future.

A move above 1345-1355 -is most important as it can confirm that correction is in place.

Trade active: 13:27 Hrs 7th April2017

Last Price@1177

Sharp Rise -Heading to 1220-1245 zone as expected.

Trade active: 17:54 Hrs 10th April2017

Last Price@1174

Turning from 1131 -looks good for upside –Above 1185 it will look even better.

Trade active: 20:01 Hrs 11th April2017

Last Price@1182

Prices are halting at 1180-1187 zone -likely we will see next set of buying only above 1187 crossed & sustained above that zone.

Trade active: 10:20 Hrs 12th April2017

Last Price@1167

Bang on move- Falls exactly from 1185 from updated last night.

Trade active: 10:32 Hrs 16th April2017

Last Price@1175

1185-1187 is a strong resistance zone- once taken out on the upside, it travel to 1220-1245 expected target zone.

Trade closed: target reached: 18:06 Hrs 26th April2017

Last Price@1217

Day High@1226- Kissed the zone of 1220-1245 as expected - we will wait to see whether we get resistance in this zone or it crosses 1245.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Thanks @AbhishekHSinghCMT , I have booked some profit, can we take short position at current price
@chandu_Trade, No short -it opens more for 1300-1325 zone & crossing 1345 it will head even higher so we next look for 1300-1325 for review next or fresh buying only above 1345-1355.
aap ke jaisa banda life mei pehli baar dekha hai.. its look like you are treating them.
Watching sir, great.
Hi Abhi, can we enter now ,cmp is 1165 or should wait further..please proivde ur inputs
@somisettys, I guess fall has started today itself at 1185 & you are trying to put your hands in fire which will burn you. Safe & better trading opportunity is only above 118-5-1186 or we need to see how it moves for a day & 2 then decide. Either ways -it has fallen exactly as per the update overnight from 1185.
somisettys AbhishekHSinghCMT
@AbhishekHSinghCMT, will enter later after 1185 levels...or wait for ur further update..Good Analysis predicting before daystart is great :)
bajajct100 AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks bro your analysis are useful for my good investment.
@bajajct100, Welcome
@somisettys, Somi- It is done after 20 -25 days.
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