On the day when Nifty is just on the verge of its all-time highs, Apollo Hospitals showed weakness. The stock was down 1% in Thursday's session.
Open Interest went up by 20% on Thursday. It is now at 1 Month High and just 6% below the 3months high.
Trading and Delivery Volumes in the stock are lesser than 1 week average which provides some comfort to the stock.
On the charts, the stock is very very close to a breakdown. The levels in this case to watch out for is 894 on closing basis. If the stock closes below this level, then we may see it correcting sharply to 870 Rs levels where we have long term support coming up.
For intraday traders, one may sell around 905 Rs levels with stop-loss at 909 and targets of 898 Rs.
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