The short-term outlook is bullish for Apollo Hospitals Enterprise. The stock has formed a strong base around ₹6,000. Several attempts made to break below ₹6,000 since the beginning of this month has failed. The strong 3 per cent rise on Friday, indicates the beginning of a new leg of up-move which can take the price further higher. Cluster of supports are there in the ₹6,300-6,250 region. Intermediate dips are likely to be limited to ₹6,250. Apollo Hospitals Enterprises share price can rise to ₹6,700 in the next few weeks. Traders can go long now at ₹6,370. Accumulate on dips at ₹6,310. Keep the stop-loss at ₹6,210 initially. Trail the stop-loss up to ₹6,410 as soon as the stock moves up to ₹6,470. Move the stop-loss further up to ₹6,530 when the price touches ₹6,590. Exit the shares at ₹6,680.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)