Stock Recommendations for August 19th-August 23rd, 2019

Buy/sell stock recommendations for this week.

Aug 18, 2019 06:08 IST India Infoline News Service

Stock Pick Observation
Company Apollo Hospitals Limited  
The stock is trading in a strong bullish higher top higher bottom chart structure on the daily chart. It has given a bullish Flag pattern breakout on the daily chart, which can accentuate fresh upward momentum. Tracking the MACD Histogram, the stock has re-entered into the positive territory, indicating of a strong momentum going forward.

Apollo Hospitals
Buy or Sell Buy (Cash)
Range Rs1450-1470
Target Rs1520
Stop Loss Rs 1420
Duration 1 week
200 D-EMA Rs1250
Stock Pick Observation
Company Cipla Ltd  
The stock is trading in a bearish lower top lower bottom chart structure, indicating of a negative bias. It has also given a bearish Head & Shoulder chart pattern breakdown on the weekly chart. Tracking the derivative data points, the stock added fresh open interest along with a decline in the underlying price, clearly indicating a buildup of short positions.

Buy or Sell Sell (August Future)
Range Rs477-485
Target Rs450
Stop Loss Rs501
Duration 1 week
200 D-EMA Rs548

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