Apollo Hospital-On Steroids, Great Volume|Long play opportunity
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Apollo Hospital is showing some excellent strength toward the upside.
Even though the market was falling for the past few sessions, ApolloHosp has been constantly moving upwards.
Volume for the previous session was the highest seen in a long time and even at the weekly level, the volume has been on the rise as you can see on the right-side chart.
Currently, it looks a bit overextended and may show a retrace but I would consider taking long opportunities in this stock if I see a good one.
I am not saying that this stock cannot fall, but just that I like to generally have a one-sided view for stock and chose the setups accordingly.
There is every possibility that this stock may come down to test 2000 or even 1800 level and that would still be a healthy pullback as stocks do tend to come and test the previous resistance as support upon breakout.
if it starts to trade below 1800, then it can be a bit concerning.
Trade with proper SL and risk management.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“I wish I had taken the SL that day.” ― Losing trader
Before you start reading kindly hit that like button. It motivates me to keep doing such work for free.
Thanks
Apollo Hospital is showing some excellent strength toward the upside.
Even though the market was falling for the past few sessions, ApolloHosp has been constantly moving upwards.
Volume for the previous session was the highest seen in a long time and even at the weekly level, the volume has been on the rise as you can see on the right-side chart.
Currently, it looks a bit overextended and may show a retrace but I would consider taking long opportunities in this stock if I see a good one.
I am not saying that this stock cannot fall, but just that I like to generally have a one-sided view for stock and chose the setups accordingly.
There is every possibility that this stock may come down to test 2000 or even 1800 level and that would still be a healthy pullback as stocks do tend to come and test the previous resistance as support upon breakout.
if it starts to trade below 1800, then it can be a bit concerning.
Trade with proper SL and risk management.
Please note: These are my views and not trading advice. Please consult your financial adviser before making any trading decision.
“I wish I had taken the SL that day.” ― Losing trader
Note
Went up over the past 2 days as expected, but looks good for a short now.
Also, the volume is declining on the way up, indicating decreasing participation.
Please book partial profits.
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