APOLLOHOSP breakout – is this the right time to go long?
Sep 8, 2024
After the Covid-19 crash, Apollo Hospitals (APOLLOHOSP) has completed Degrees (Waves) 1 and 2, and is right now in Degree (Wave) 3.
In Degree (Wave) 3, the stock has completed subwaves 3.1 and 3.2. Subwave 3.3 is near completion.
Post completion of subwave 3.3, it would be time for corrective subwave 3.4 to begin, which should take the price down to 38.2% Fib level.
We are expecting subwave 3.4 to retrace to only around 38.2% Fib level, because subwave 3.2 was a moderate correction, which retraced by only 50%.
Also, subwave 3.4 should be a Zig-Zag correction, as subwave 3.2 was a regular flat.
Post completion of subwave 3.4, we should see the beginning of the last phase of Degree (Wave) 3, which is 3.5. This would be the right time to go long.
The expectation for Degree (Wave) 3.5 is to reach at least 100% Fib extension, which should take price of the stock to around Rs. 8,249. However, if subwave 3.5 goes into extension, it should reach 161.8% Fib extension, which will take the price of Apollohosp to around Rs. 11,270.
Share the name of the stock you're interested in, and we'll be more than happy to conduct a thorough analysis for you.
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
After the Covid-19 crash, Apollo Hospitals (APOLLOHOSP) has completed Degrees (Waves) 1 and 2, and is right now in Degree (Wave) 3.
In Degree (Wave) 3, the stock has completed subwaves 3.1 and 3.2. Subwave 3.3 is near completion.
Post completion of subwave 3.3, it would be time for corrective subwave 3.4 to begin, which should take the price down to 38.2% Fib level.
We are expecting subwave 3.4 to retrace to only around 38.2% Fib level, because subwave 3.2 was a moderate correction, which retraced by only 50%.
Also, subwave 3.4 should be a Zig-Zag correction, as subwave 3.2 was a regular flat.
Post completion of subwave 3.4, we should see the beginning of the last phase of Degree (Wave) 3, which is 3.5. This would be the right time to go long.
The expectation for Degree (Wave) 3.5 is to reach at least 100% Fib extension, which should take price of the stock to around Rs. 8,249. However, if subwave 3.5 goes into extension, it should reach 161.8% Fib extension, which will take the price of Apollohosp to around Rs. 11,270.
Share the name of the stock you're interested in, and we'll be more than happy to conduct a thorough analysis for you.
Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
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