The trade is based on day time frame analysis imposed upon 15 min time frame.
There is a pennant in 15 min time frame and the target is defined based on the pennant pattern.
After Testing the Supply zone twice, Stock is consolidating near the resistance levels. This time, stock has approach the resistance zone with good volumes.
An hourly closing above 1220 would be a good Opportunity for Swing Trade.
CMP: 1192.70
T1: 1368
T2: 1635
T1 and T2 are decided based on Fibonnaci Levels.
P.S: This analysis for educational purpose...
Apollo Micro System - APOLLO - Daily
Self explanatory chart will all the targets and SL.
buy on every dip for mentioned targets 3-6months time frame.
SL trailing is required as not much liquid stock.
Possible Gartley Formation:
1. Risky Traders: Can take Short Position @ CMP(2406) to 2427 and anytime below these levels as well:
A. Target : 2339/2340 (Which is a pivot point as well, further better target)
B. Stop Loss : 2430/2431
2. All Traders: Can Take a long position from 2339/2340:
...
Travelling in a pattern. Don't be surprised if this week we see a red weekly candle. It could just be the opportunity we need.
Let's see if the pattern repeats.
On the watchlist.
Another bull flag spotted
Apollo hospitals
as per option chain analysis, 2300 level will act as support. so as long as it stays above 2300, it is bullish to me.
buy on flag breakout
