Watchout for Support Breakdown - Head & Shoulder Formation
Apollo Hospitals is involved in the business activities of Hospital activities.
The stock from a technical standpoint is trading close to its 50DMA and it seems that the same will be breached. The RSI indicator is also showing lack of momentum in the Stock.
Short below 3137 for short term target of 3100 levels with SL at 3160.
A breakdown below 3089 levels will confirm Head & Shoulder Breakdown which will take the price towards 3000-2950 levels.
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The stock from a technical standpoint is trading close to its 50DMA and it seems that the same will be breached. The RSI indicator is also showing lack of momentum in the Stock.
Short below 3137 for short term target of 3100 levels with SL at 3160.
A breakdown below 3089 levels will confirm Head & Shoulder Breakdown which will take the price towards 3000-2950 levels.
Feel free to share your feedback and queries. Do visit my profile for previous posts and follow me for upcoming ones.