APOLLO HOS­PI­TALS

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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.

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