APOLLO HOSPITALS...!!!

APOLLO HOSPITAL IS DOWNSIDE OVER...???

This stock is down more than 15% from its life high and over 7% in last 5 sessions but over long term stock is consistent performer beating its peers. 

Now lets try to understand trend for chart on weekly and daily basis. 

WEEKLY CHART

DAILY CHART

At first moves were weekly basis and refined to daily chart too for easy understanding.

In above chart we can see that stock is making lower highs on medium term perspective but in last 5 sessions stock given almost one sided move.

Now if we analyse this stock on pattern perspective then stock has achieved its downside target as per inverted flag & pole pattern (distribution pattern) too.

Lets study chart as per that pattern.

See in this chart at first

• Pole length is 134 points approximate (from 1435-1301) (Extreme vertical line)
• Flag formation by 5 candles in price range of 1301 to 1375.
• Breakout on downside from 1345-1348 levels but from flag levels (1375) target comes to 1241 approximately (1375-134) and low made during last trading session is 1240.20

SO CONCLUSION IS STOCK IS AT SUPPORT LEVEL AND WE CAN EXPECT BOUNCE BACK IN THIS COUNTER.

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