Apollo Hospital - Low Risk High Reward Potential !

Apollo Hospital is currently in the major 5th wave of the bull cycle, as illustrated on the chart. It appears that wave 4 took the form of a zigzag pattern, resulting in a deeper correction to 61.8%. Typically, wave 4 corrects to levels between 23-38%, but due to the shallow nature of wave 2, we can anticipate a more profound wave 4 in accordance with the principle of alternation. This suggests that we are currently in the 5th wave, and the focus now shifts to determining our position within this wave. Based on the chart markings, it is possible that we are approaching the final phase of the 5th wave.

Furthermore, analyzing the price action reveals a retest of the breakout levels from November 2021, accompanied by a morning star formation on the weekly chart. This indicates a potentially favorable trajectory for Apollo Hospitals, with a minimum target range of 6800-6900 and a secondary target of 8438. The current levels present an attractive risk-reward ratio for entry, with a suggested stop loss around 5600 levels. Additionally, employing the pyramiding technique to gradually build our position could be beneficial. I will provide updates on the next entry levels as the market moves in our favor

Disclaimer: Please note that the information presented in this analysis is intended for educational purposes only. It is highly recommended to seek advice from a financial advisor before making any investment decisions. I cannot be held accountable for any financial losses that may arise