Apollo Hospitals
Current Market Price: ₹8,469
Jatin Gedia of Teji Mandi expects Apollo Hospitals to target ₹9,200-₹9,300 levels in the medium-term. This implies a potential upside of around 10 per cent from current levels. He believes that the stock may consolidate in the near-term, and recommends buying the stock on dips toward the support zone of ₹8,200-₹8,000 levels. Explaining the bullish behaviour, Hitesh Tailor of Choice Broking highlights that Apollo Hospitals has been exhibiting strong bullish momentum and continues to trade above all its key moving averages, reflecting a healthy trend structure and persistent buying interest. ALSO READ | Meta deal, 49th AGM, stock at 52-week low: Why are analysts bullish on RIL? That apart, the analyst notes that the stock recently witnessed a decisive breakout from a consolidation pattern. Tailor expects the stock to target the key Fibonacci Extension resistance levels at ₹8,802 (1.50 extension) and ₹8,969 (1.618 extension) in the near-term. On the downside, he sees support at ₹8,097, being the previous breakout zone, followed by ₹7,970, which coincides with the 50-Day Exponential Moving Average (EMA).
Aster DM
Current Market Price: ₹813
Aster DM Healthcare is exhibiting strong bullish momentum and recently delivered a decisive breakout above its previous swing high near ₹736, indicating continuation of the broader uptrend, says Tailor of Choice Broking. “The stock is forming a higher high–higher low structure and is sustaining well above its key moving averages, reflecting persistent buying interest and a healthy trend setup, he explains. Tailor adds that the recent breakout has pushed the stock near its Fibonacci extension targets of ₹842 (1.50 extension) and ₹867 (1.618 extension), which may act as the next resistance zone. Having said that he expects the overall bias to remain positive as long as the Aster DM stock sustains above ₹736. On the downside, the analyst expects strong support for the stock around ₹673–₹655 levels. Gedia highlights that momentum indicator on Aster DM daily chart has a positive crossover which is a buy signal. The analyst expects the stock to continue its uptrend toward ₹870-₹900 levels (up to 10.7 per cent upside potential, with near support likely around ₹770–₹780 levels.
Sai Life Sciences
Current Market Price: ₹1,199
Gedia of Teji Mandi has projected up to 17 per cent upside for Sai Life stock from current levels, with medium-term targets placed in the ₹1,350-₹1,400 range. The analyst reckons that the stock has been in an uptrend for the past eight weeks, and may enter a phase of consolidation in the near-term. “Some consolidation is likely as the momentum indicator suggests negative divergence, indicating a loss of upward momentum,” explains the analyst. As a trading strategy, Gedia recommends to look for buying opportunities at the support zone around ₹1,100-₹1,080. Echoing a similar view, Tailor does not rule out the possibility of some profit-booking at current levels. “After the recent sharp rally, some consolidation or profit booking cannot be ruled out; however, the overall bias remains positive as long as key support levels hold,” says the analyst. Tailor sees immediate support for the stock near ₹1,145 (20-Day EMA), followed by ₹1,088 (50-Day EMA). On the upside, he believes that sustained strength above ₹1,240 could open the door for further gains in the coming sessions. Disclaimer: The views expressed by the brokerage/ analyst in this article are their own and not those of the website or its management. Business Standard advises users to check with certified experts before taking any investment decisions.