APOLLOHOSP#apollohospitals analysis
Apollo hospitals reversal swing setup.
Swing upmove Above 4530 for a target of 4750 and with a stop of 4395.
let's analyse what's happening in Apollo hospitals.
#the current trend is down and It has completed 2 similar-sized and duration down legs,
taking support of the major up trendline and falling channel support line.
# simultaneously the sectoral index nifty pharma and nifty healthcare is also showing signs of reversals,
explained on the chart.
1. Weakening down trend each next down leg is getting smaller and the duration for it is also getting shorter,
2. the rsi indicator is showing a bullish divergence.
3. taking multiple supports.
#the target is projected as a measured move of the previous pullback move.
stop loss is below the support zone.
Use position sizing according to stop loss level.
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Keep learning,
Happy trading.
Thank you.
Nota
Wait for entry level as it has extended consolidating in downtrendNota
Entry triggered 4530 to 4665 runningNota
Breakout didn't sustained, stop hit
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.