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Technical Symphony of Bullish Signals in Apollo Hospitals

Long
NSE:APOLLOHOSP   APOLLO HOSPITALS.
Hello Friends,

Technical Analysis Summary of Apollo Hospitals

In this technical analysis, we have examined the price action of Stock APOLLO HOSPITALS across multiple timeframes, focusing on the weekly, daily, and hourly charts. The analysis aimed to identify potential bullish signals and assess the ongoing trend to aid in decision-making for traders and investors.

Weekly Chart

On the weekly chart, we observed the completion of waves (1), (2), (3) & (4) and now possibly
we are unfolding wave (5) on weekly. Additionally, the Moving Average Convergence Divergence (MACD) remained positive and above the zero line, supporting the bullish sentiment. The Relative Strength Index (RSI) also indicated strength in the upward move.

Daily Chart

Switching to the daily timeframe, we had completed wave 1 and 2 inside the weekly wave (5) and now possibly we are unfolding wave 3 of (5), also we witnessed two range breakouts, both accompanied by good volumes, signaling a strong uptrend. The MACD displayed an uptick above zero line after a minor pullback, further validating the positive outlook. Additionally, the RSI reflected strong positive momentum, aligning with the bullish bias on higher timeframes.

Hourly Chart

On the hourly chart, the stock exhibited an ascending triangle pattern, and its breakout with significant volume further supported the bullish continuation. The RSI on the hourly chart remained in a robust positive territory, emphasizing the strength of the upward move, rsi level is too high and down tick, so it might give any dips that can used as an opportunities to go long.

Moving Averages

On all three timeframes like hourly, daily, and weekly charts, this stock traded above the 50-period Exponential Moving Average (EMA), 100-period EMA, and 200-period EMA. This alignment with the EMAs indicated a consistent and strong bullish trend across different time horizons.

Conclusion

Based on the analysis of multiple time frames and multiple technical indicators, including the Elliott waves, MACD, RSI, and Moving Averages, Stock APOLLO HOSPITALS demonstrated a compelling bullish outlook. One can go long now with small quantity and add some in dips (if any) with invalidation levels mentioned on chart as a red lines.
Technical Symphony of Bullish Signals in Apollo Hospitals looking potential upward continuation.

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RKπŸ’•

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The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.

some significant snapshots are shared below
Possible Weekly Elliott wave structure

Possible Elliott wave structure on daily chart

Range breakouts on daily time frame with good intensity of volumes

Price given ascending triangle's range breakout with good intensity of volumes on hourly chart

MACD positive on hourly chart

MACD uptick after down fall above zero line on Daily chart

MACD positive and above zero line on Weekly chart

RSI breakout and uptick above 60+ on weekly

RSI breakout and uptick above 60+ on daily

RSI strong positive on hourly

One possibility


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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.