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Apollo Hospitals Enterprise Ltd

BUY 28 APR 7500 CALL  Apollo Hospitals Enterprise Ltd  Entry Range 170-180 Target Range 250 Stop Loss 135

Rationale

* On the daily chart APOLLOHOSP witnessed a bullish reversal after forming a clear double bottom pattern near the recent lows, indicating strong demand absorption and a potential trend shift from bearish to bullish.

* On the technical front prices are sustaining well above the key moving average of 100-DEMA, reflecting improving momentum and strengthening short-term trend support, which is a positive sign for further upside.

* Momentum indicators support the bias, as RSI is gradually inching higher and hover above the 50 mark, while MACD shows signs of a positive crossover, suggesting bullish momentum in the near term.

* A sustained move above the immediate resistance zone around 7600 zone could trigger further buying interest, potentially pushing the stock towards 7800 - 8000 levels, while the EMA zone should act as strong support.

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SEBI Registration number is INZ00017433