Can I buy shares of Apollo Hospitals at the current price?
- Ashwin Patel
AVOID APOLLO HOSPITALS ENTERPRISE LTD FOR NOW
Apollo Hospitals is currently trading at Rs 1073. Its 52-week high/low stand at Rs 1396.45/ Rs 998.50 made on October 19, 2016 and September 28, 2017, respectively, which shows that stock has been trading in a negative trend. Considering the weekly time frame, the stock has just given a resistance-turned-support breakdown at Rs 1049 level. The volumes are low and the 14-period RSI is quoting at 39 but has given a positive crossover. Moreover, considering the daily time frame, the stock has formed a kind of rounding bottom with breakout at Rs 1120-1130 levels. Thereby, we suggest you to avoid for now and enter only above Rs 1135 for short term gains with target of Rs 1155-1195.