apollo tyre looks bullish in short to medium term. Long

APOLLO TYRESNSE

Description

⋅ Sep 6, 2017 2:18 PM

In daily, price is consolidating above the ascending channel support. Bounce back is expected here.

sl - 246, tgt1 - 285, tgt2 - 295.

Trade active

⋅ Sep 12, 2017 12:55 PM

price reversed from the channel support smartly, till now 263.35.

Trade closed manually

⋅ Sep 26, 2017 2:27 AM

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