Buy or sell stocks: Domestic equity benchmarks Sensex and Nifty 50
Buy Apollo Hospitals at ₹6,065; Upside Potential of 8.05 per cent at Target Price ₹6,550; Stop Loss: ₹5,800 at 4.37 per cent
The stock has indicated a higher bottom formation pattern on the daily chart taking support near the important 200 period MA at 5690 zone and with a decent pullback to move past the significant 50EMA level of 6015 zone has improved the bias to anticipate for further rise. The RSI is currently well placed and has indicated a trend reversal to signify strength and can carry on with the positive move further ahead. Currently, with risk-reward looking favorable, we suggest to buy the stock for an upside target of 6550 keeping the stop loss of 5800.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.