apollo tyre looks bullish in short to medium term.
In daily, price is consolidating above the ascending channel support. Bounce back is expected here.
sl - 246, tgt1 - 285, tgt2 - 295.
sl - 246, tgt1 - 285, tgt2 - 295.
Trade active
price reversed from the channel support smartly, till now 263.35.Trade closed manually
it looks bearish now, reason:1. ascending wedge/ending diagonal, pattern confirmed after support broken
2. regular bearish divergence
3. 5 wave impulse completion in daily.
in.tradingview.com/x/FkuV3vW5/,
so it can retrace to 38.2 - 50 % levels
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.