Apollo Hospitals (ticker: APOLLOH) ForecastThe chart provided is a weekly candlestick chart for Apollo Hospitals (ticker: APOLLOH) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart:
Timeframe and Data:
- Timeframe: Weekly
- Data Range: From around early 2022 to mid-2024
Price Analysis:
- Current Price: ₹5,914.35
- Price Movement: The stock price has experienced significant volatility over the depicted period.
- The price fell sharply from around ₹6,000 in early 2022 to below ₹4,000.
- It then gradually recovered, forming a steady upward trend reaching a high of around ₹7,000 in early 2024.
- Recently, the price has declined from the peak and is showing some consolidation around the ₹5,914 level.
Technical Patterns:
- Support and Resistance:
- Support: The area around ₹5,750 to ₹5,850 has acted as a support zone recently.
- Resistance: The price faced resistance around ₹6,000, as indicated by multiple touches and rejections at this level.
- Descending Triangle: A descending triangle pattern is visible from the recent high near ₹7,000. The price is consolidating within this triangle, characterized by lower highs and a relatively horizontal support line around ₹5,750-₹5,850.
Potential Future Movements:
- Bullish Scenario: If the price breaks above the descending triangle and crosses the resistance at ₹6,000, it could indicate a potential upward movement, possibly retesting previous highs around ₹7,000.
- Bearish Scenario: If the price breaks below the support zone of ₹5,750, it might lead to a further decline, with the next major support level potentially around ₹5,250 to ₹5,000.
Conclusion:
The chart shows that Apollo Hospitals' stock has been consolidating in a descending triangle pattern after a strong uptrend. Traders should watch for a breakout above the resistance at ₹6,000 for a bullish signal or a breakdown below the support at ₹5,750 for a bearish signal. The stock is currently at a critical juncture, and its next move will likely be significant in determining its short to mid-term trend.
Apollohospitalbuy
APOLLOHOSP--Near it's trendline??The stock is trending upwards...
facing resistance in the zone 5300.
if we see on bottom side..price has taken the support from 4900...
price is also near its trendline...taking the support of trendline will not able to sustain above 5300 zone..
if price falls below the trendline..with a small retest to trendline,it will fall until 4900 range only...
until price breaks this zone @4900,don't go for short...
it will come back for retracement then will go for sell side...
APOLLOHOSP--Demand Zone @4355??Observations::
--------->> The stock is trending upwards in daily time frame.
--------->> Previous resistance is broken but failed to close above levels, results in selling pressure towards downside.
-------->> we have a demand zone @4360 levels. where previously strong buy ness is observed. If price breaks this level we have a support @4340 levels.
--------->> if this zones acts as a support, a strong rise towards upside is possible.
If price breaks resistance @4680 range we have next resistance placed @4800 range.
if price comes back to this place we will go for buy @4200-4240 . Keep track this levels.
APOLLOHOSP : Triangle pattern APOLLOHOSP After positive bias its trading in triangle pattern.
Wait tomorrow for triangle pattern breakout with candle stick pattern support
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Apollo Hospital will cross 1300?Apollo hospital has shown good momentum from 1245. Expecting good upside movement this Expiry. If Price breaks and Close above 1300 then positional targets 1360-1400 possible in upcoming 15-20 days. Intraday and positional levels are given. (While trading intraday move stoploss to cost as soon as you are in profit.)