APOLLOHOSP has broken its recent downtrend line and closed above the line. Signifying renewed interest in the stock coming in as volumes are double and the PA covered previous 3 days downfall.
Buy APOLLOHOSP Above 1029 for Target 1 of 1059 and Target 2 of 1086 with Stop-loss on closing basis of 1015.
Please consult your Financial advisor before taking a call on this.
Pls see the chart. Double top formation going on in 1 hr chart based on double top 1060 is support level. Based on triangle, support line mentioned in chart. Choose which one is prefer to you. Both breakdown gives the same target.
The stock has formed a beautiful flag pole and it seems to giving breakout today after 3 days of consolidation with low volume. One can buy the stock for good returns for a target of 1250 by providing the stop loss of 1148.
It has been observed that the price action bottoming out as it formed an exhaustion candle stick at support zone, indicatng sellers exhaustion and now it breaks above the downward trend line indicating buyers comeback and it shall further rally from here on if it manages to close above 1000 levels.
Apollo Hospitals can be traded two ways :
i) On Pullback Entry which is shown as above , its not active yet. Only if we get pullback it gets activated.
ii) Can be traded as breakout from triangle, but the problem is when you get aggressive with your entry Risk gets wider, so you need to move it up above 1265's zone
Let's see whether we can get high without drugs... !
CMP - 1232.05
SL and Target marked on the chart.
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.
Apollo Hospitals Ltd trading in consolidation period and it closed on long term support in last week end, there may be good opportunity to long on this stock at CMP, for a target of 1330.00 in coming week, and if it breaks the triangle pattern then it may approach the target of 1443.00 in near term. traders may wait at 1330.00 to see if there is breakout occurs...