Buy Apollo Hospital for target of Rs 1370 trading call

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Pee Vee
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Joined: Mon Dec 26, 2016 10:45 pm

Buy Apollo Hospital for target of Rs 1370 trading call

Post by Pee Vee »

Trading ideas (Time period: 1-3 days)

Apollo Hospitals (Buy above Rs 1330, for target of Rs 1370, SL at Rs 1310): Stock has broken out from a rising channel pattern on the daily charts and the price outburst has been accompanied with impressive volumes. Apollo Hospitals is swiftly moving in a higher top higher bottom cycle and has also closed above its 200-DMA placed at Rs 1295. We advise to Buy Apollo Hospitals above Rs 1330, Stop Loss at Rs 1310 and Target of Rs 1370.

Derivative strategies (Time period: Till expiry)

Buy Bharti February future @ 360-362.5, Stop loss 355 & Target 366-368.

Derivative Snippets

In the last session, the markets ended on a lackluster note. Nifty ITM call options witnessed short covering while Nifty 8900PE and 9000CE added fresh short positions, which indicate a muted expiry day trading session. Based on the mentioned data, an expected close for the February F&O expiry would be between 8900-9000 levels.
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