dravya

Apollo Hospitals - Trend Continuation

Short
dravya Updated   
NSE:APOLLOHOSP   APOLLO HOSPITALS
Apollo Hospitals

CMP - 1232.05

SL and Target marked on the chart.

Reason -

It's in downtrend,
and trend continuation is what I follow as it provides a good R.R.R. ( in this case 1:4 )

Here, prices have trended down, consolidated, can be expected to move down more.

Comment: The good thing about this is that, if the very recent upmove continues and the stock gaps up above the line or immediately goes above the yellow line, we don't enter at all. Entry only when it shows clear rejection from that line. SL should still be maintained.
Trade active
Trade closed: stop reached: SL hit. Broke out of the trendline.
Comment: Watch if it takes support or breaks the trendline. Worse case is when it goes back and forth it. So look for big candles that will show strength in move, not necessarily but more probably.

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