APOLLOHOSP has been moving in the rising parallel channel since March 2020 and it is expected to continue the pattern.
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Simple broadening bottom pattern last noticed in Tata consumer.
If Bears don’t kill the market next week / Month, Apollo Hospital is in for a very big move.
This is just a chart pattern discussion. Please trade your hard-earned money on advice of a registered stock market expert. I am a newbie trader :)
Apollo Hospital made a new all-time high and closed near that level. Buy Apollo Hospital if sustains above 5135 for the upper targets marked on the chart.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Apollo Hospitals flag and pole breakout can be seen. with the finance minister allotting stimulus package in pharma sector and rumours of 3rd wave of covid can push this stock to a new level. stoploss is marked in red along with targets
If the price breaks out above this bullish flag pattern, entry will be triggered.
Entry around 4870 (AFTER BREAKOUT)
SL of 4700/4600 zone (day close)
Targets of 5240, 5500+
PROBABILISTIC TRADE PLAN
Risk of 4%
Reward of 13%+
#ApolloHospital wish had not missed that bullish momentum reverse divergence just before that 21% breakout
which is now history and educational only :)- reminds need do the homework of scanning stocks regularly.
great volume, momentum resulting in a consolidation breakout. Now need wait for a retracement levels
for any entry
Where do you think the #stockmarket is heading?
Important Nifty levels and Banknifty levels for tomorrow:
Levels for Nifty: 15,596, 15,660,15,733, 15,750, 15,835 15,986 (don't want to pick tops)
Levels for Banknifty: 34,130, 34,420, 34,640, 34,800, 35,011, 35,250, 35,340, 35,400, 35,529,
The stock has shown a good run and looking tired now.
There is also divergence in RSI and MACD on a daily time frame, It stock breaks the highlighted support zone, lower marked targets are expected to come.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
