F&O Buzzer | Bulls pile up positions in Apollo Hospitals after Q3 show cheers Street

The price has crossed above both the 20-day moving average and the 20-day exponential moving average.

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Shares of Apollo Hospitals gained about 3 percent to Rs 4,390 as of 10.35am on February 15 after the company’s Q3 performance impressed the Street. Rising buying interest was also reflected in cues emerging from the futures and options (F&O) market.

Open interest in the counter has risen 9 percent compared to the previous day, suggesting that even more investors plan to take a position in Apollo Hospitals. Open interest refers to the number of outstanding contracts in the market and, when it rises, it indicates that more investors are taking a position in the stock. Rising open interest with jump in price is a bullish sign and is known as long buildup.

Bars reflect change in OI during the day. Red bars show call option OI and green put option OI.

The 4,300 strike was the battle zone with both call and put writers active at that level. Besides, Put writers have also built positions at 4,100 and 4,200 as they emerge as support area for the stock.

The volume and rollover have reached their highest levels of the week, indicating strong investor interest in the stock. Rollover refers to the number of contracts that are being rolled over from one expiration period to another, and a high rollover suggests that investors are confident in the future prospects of the stock.

Moreover, the price has crossed both the 20-day moving average and the 20-day exponential moving average. They are widely watched technical indicators. When the price surpasses these averages, it suggests that the stock is gaining momentum and may continue to rise in the short term.

Suneeta Reddy, MD of Apollo Hospitals on CNBC-TV18 said the company has reached the peak of losses for digital business.

“Don’t anticipate the losses to worsen for Apollo Healthco,” she said. “Have requirement of around Rs 200 crore in H1FY24 for digital business. short-term balance sheet is strong.”

Reddy also informed that the company was in talks with non-strategic long-term investors for the digital business to raise capital.

The management expects healthcare services to improve on a blended basis. It expects a 100 basis points improvement in blended margin.