APOLLO HOSPITALS: Symmetrical Triangle Breakout Watch

Apollo Hospitals (APOLLOHOSP) is currently forming a well-defined Symmetrical Triangle pattern on the daily chart.

Key Observations:
• Symmetrical Triangle: Price action has been consolidating within converging trendlines,
indicating indecision between buyers and sellers.
• Potential Breakout: A breakout above the upper trendline of the triangle, coupled with
increased volume, would signal a bullish continuation.
• Target 1 (Post-Breakout): The chart indicates a "Target 1 - for Positive Breakout" around
the 7300-7350 zone, which aligns with previous resistance levels.
• All-Time High Price Zone: The stock previously reached an "All Time High Price Zone"
around 7500-7600, which could be a further upside target if the bullish momentum
sustains.

Trading Idea:
• Entry: Look for a sustained breakout above the upper trendline of the symmetrical triangle. Confirm with strong volume.
• Target 1: 7300 - 7350 (Based on previous resistance and indicated target).
• Stop Loss: A break below the lower trendline of the symmetrical triangle would
invalidate the bullish setup. Traders can place stop-loss orders below a recent swing low
within the triangle or slightly below the lower trendline post-breakout confirmation.

Risk Management:
• Always use appropriate risk management and position sizing.
• Monitor volume closely during the breakout attempt.

Disclaimer: This is for educational purposes only and not financial advice. Do your own research before making any trading decisions.