Market Trading Guide: HUL, Apollo Hospitals among 7 stock recommendations for Tuesday

On the hourly time frame, HUL (Hindustan Unilever Limited) has exhibited a breakout from an ascending triangle pattern. There has been a consistent rise in trading volume, which signifies growing interest from buyers

Additionally, the price is currently trading above the 18-period Exponential Moving Average (EMA), and the EMA itself is trending upward, indicating a potential upward trajectory for the stock. When analyzing the daily time frame, the security has closed above the previous 8 days' closing levels, signaling a resurgence of buying interest in the stock. Moreover, the Relative Strength Index (RSI) on both the daily and hourly time frames supports the observed price action, further suggesting a bullish sentiment in the stock

(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)

On the daily time frame, Apollo Hospitals has shown a significant breakout by closing above the previous supply zone, suggesting a bullish trend reversal. This breakout is further supported by the trading volume, which indicates that buyers are enthusiastic about purchasing shares at current levels. Additionally, the price of Apollo Hospitals is trading above both the Fast (50) and Slow (200) Exponential Moving Averages (EMA), indicating a strong bullish trend in place.

The momentum indicator Relative Strength Index (RSI), is trading near 60 in an upward direction, which aligns with the price action and supports the bullish sentiment. Moreover, the Directional Movement Index (DMI) shows a bullish setup, with DMI+ trading above DMI-. This indicates an upward trend, and the ADX (Average Directional Index) trading above DMI- reinforces strength in the move.

(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)

Stock is showing stupendous momentum from the last several weeks and making new highs every week. However we feel stock has approached the resistance area from where it has reversed multiple times. The stock is also approaching its 200 WEMA and it seems crossing it will not be easy.

(Riches Vanara, Technical And Derivatives Analyst, StoxBox)

We have seen a gap down opening after facing resistance at 61.8% fibonacci retracement level and it has also violated 50% retracement level calculated from previous pick to latest low. The stock is getting some supply pressure from higher levels and momentum indicators MACD and 14 RSI compliments the supply pressure. Hence we reckon to sell for targets of 790 and 770 with stop above 850.

(Riches Vanara, Technical And Derivatives Analyst, StoxBox)

Stock broke out of the descending channel pattern on weekly charts with above average volume. This week price has retraced back towards breakout levels with a gap down opening. However volume activity is below average and can be termed as a shakeout before further upmove.

(Riches Vanara, Technical And Derivatives Analyst, StoxBox)

The stock's recent closure at its peak suggests a bullish trend. It has consistently remained above the crucial moving average, and the daily Relative Strength Index (RSI) shows a bullish crossover.

(Rupak De, Senior Technical analyst at LKP Securities)

The stock shows strong technical signals — a breakout from a consolidation channel — closing above a key resistance on the daily chart, trading above its 50-day and 200-day moving averages, and an RSI at 65 indicating robust momentum.

(Rupak De, Senior Technical analyst at LKP Securities)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)