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Apollo Hospitals Technical Analysis #7: Buy | Target Rs 1400 | Arijit Banerjee

OUR RECOMMENDATION

CMP#1292.2
IdeaBUY
Buy Range1250 – 1280
Target1400 – 1480
StopLoss*1180
Duration15 – 20 Trading Sessions
Potential Return^8 – 15%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
1292.2BUY1250 – 12801400 – 1480118015 – 20 Trading Sessions8 – 15%

# CMP on Dec 03, 2018
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 1346.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

Founded in 1979, Apollo Hospitals, together with its subsidiaries, provides healthcare services in India and Internationally. The company provides care in 55 specialities including cardiac sciences, oncology, critical care, orthopaedics etc, and also manages a chain of pharmacy retail outlets across the country. The Chennai based company also provides other services such as project consultancy, health insurance and research services. Apollo Hospitals reported a standalone net profit of Rs 78.98 crore for the quarter ended September 30, 2018, compared to Rs 70.90 crore reported during the corresponding period of 2017-18.

Stock Data
NSE CodeAPOLLOHOSP
Sectoral IndexNifty Pharma
52W High1329.85
52W Low910.1
Face Value5
Relative Performance_Apollo Hospitals vs Nifty Pharma Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • Stock Price has made Breakout above the true crucial Weekly Resistance, at 1200.
Apollo Hospitals Weekly Chart
Apollo Hospitals Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • Higher Tops and Higher Bottoms at Daily Charts.
  • Last few days stock is trading above the 15 days MA.
  • Recent closing near the Upper Bollinger Band showing the confidence of further bullishness.
Apollo Hospitals Daily Chart
Apollo Hospitals Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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