Bullish Flag pattern is witnessed in Apollo Hospitals on 28-Aug-2019. This pattern is justified based on satisfying the following conditions.
1) There is a steeper pole formed in 3 days with the angle around 85 degrees.
2) The flag pattern formed in 7 days.
3) The volume during the flag period is relatively low.
4) The Breakout happened today (28-Aug-2019) in positive direction with high volumes.
Considering the above points, LONG position can be intiated.
Entry around Rs.1516
Stoploss- Rs.1425 (Lower point of Flag)
Target: Rs.1607 (considering 1:1 Risk to Reward)
View posted on 28-Aug-2019
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Stock Ticker – NSE: APOLLOHOSP – Apollo Hospitals Enterprise Ltd. – HEALTHCARE SERVICES
Bullish Trade plan:
Entry Level 1516 Target 1607 Stoploss 1425
Analyst Rating – :4/5
View Posted on 2019-08-28