Apollo Hospital : - Breaking Trendline will give up move.Stock is bullish after retracement. Tried few time to break the trendline and failed. If this breaks in coming days or tomorrow which has higher chance can give good uptrend points. Also Call unwinding is seen on upper levels which indicates an uptrend. however caution at reversal zone.
Disclaimer :- Kindly do your own research before taking any position. Market is all about probability, maintain you SL stickily.
APOLLOHOSP trade ideas
APolo Hosp { Short 15 M }At trend line ( Resistance ) , Doji formed short if break
Rest is as per chart
Note :-
Entry - At the break of mentioned candle's low/high
Stop Loss -
In a Short Trade, I always use Previous Candle High ( PCH ) as a stop loss while entering the trade. Sometime I might use 15 M tf SL & trade in 30M tf which I'll mention. Vice Versa for long trades
Trailing Stop Loss ( TSL ) - Mostly I trail stop loss by PCH as price falls . I exit as PCH breaks & vice versa
Use of PSAR as TSL :- TSL get's hit in trend following due to noise, In such cases I use PSAR to be in trend & exit if PSAR direction change
You can use any one of above mentioned or your own way to manage risk
Time Frame :- I take ~ 90% of my intraday trades in 15m tf. Where my analysis might come from higher frames like W , D or 1hr chart pattern which will be mentioned.
Target :- I do set target line based on support / resistance slightly above/ below it . Please pay attention to it
Apollo Hospitals @2110 - Target 2400 and stop loss of Rs. 22Apollo Hospitals has approached it's multi year trend line negating covid turbulence from April to July.
Historically, for Apollo Hospitals RSI has been a critical indicator suggesting whether to expect the trend line to be a Support or resistance.
After the quarterly result blues are over, RSI indicates that stock is ready to approach and cross the multi year trend line if it holds above 2110 on closing basis.
Very small stop loss can fetch 300 Rs upside in quick time. Good candidate for call buying also given recent down trend call pricing would be cheap.