Apollo Hospitals Enterprise Ltd

NSE :APOLLOHOSP   BSE :508869  Sector : Healthcare

About Company: Apollo Hospitals was established in 1983 by Dr. Prathap C Reddy, renowned architect of modern healthcare in India. As the nation’s first corporate hospital, Apollo Hospitals is acclaimed for pioneering the private healthcare revolution in the country. Apollo Hospitals has emerged as Asia’s foremost integrated healthcare services provider and has a robust presence across the healthcare ecosystem, including Hospitals, Pharmacies, Primary Care & Diagnostic Clinics and several Retail Health models.

News in Apollo Hospital: The September quarter performance of Apollo Hospitals Enterprise (AHEL) was better than expected with a rise in the average revenue per occupied bed (ARPOB) and a lower average length of stay (ALOS). The company also acquired a 65 per cent stake in the 180-bed Excel care Hospital in Guwahati at an enterprise value of Rs 210 crore, and it’s seeking to acquire a 300-bed facility in Mumbai in the next few years and 300 more beds in Bengaluru by acquisition in the next two years

Daily Chart Of Apollo Hospital:

Technical Outlook Of Apollo Hospital:

Apollo Hospital today gained 8.81% post Q2 results declaration. Stock gained 411.85 per share today. Technically stock is trading at its resistance zone of 5120- 5155, We can clearly observe stock saw a huge jump in volumes. Apollo Hospital chart is in forming Inverse Head and Shoulder Pattern. One Shoulder and Head has already been formed and a second shoulder may or may not form. If prices consolidates around the resistance zone we may see small correction in stock upto 4800 level, On the other side if stock crosses resistance and sustains above 5150 stock prices may shoot up as Apollo Hospital stock may enter uncharted territory.

Hence, we recommend to take fresh entry in stock only once it sustains above 5150 level, Stoploss should be placed below 4800 levels and expected targets on the upside may be 5400- 5600 in the next few trading sessions.