May 30, 2017
Apollo Hospital (NSE Cash)
BUY
` 1195
` 1230 - 1237
` 1310
14 - 21 sessions
Daily Chart
Source: Falcon (Time: 11:40 IST)
Justification:
During the month of April, the stock had shown an ‘Impulsive’ upmove from its long term support of 1130. Post completing a
five wave structure, prices have corrected in last few trading sessions and have retraced 61.8% of the previous upmove. The
prices have managed to find a support near the mentioned support and are showing signs of resumption of the uptrend. The
‘RSI’ oscillator too is indicating a positive crossover from the support of 40. Considering the above reasons, we are assuming an
end of the corrective move at the recent low and thus there is higher probability of a decent upmove from the current levels.
Hence, we advise traders to buy this stock at current levels and on declines at `1230 for a target of `1310 over the
next 14- 21 sessions. The stop loss should be fixed at `1195.
Ruchit Jain
022-3935 7600 Extn: 6554
1
May 30, 2017
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Source: Angel Research
Research Team Tel: 022 - 4000 3600
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