APOLLOTYRE which was Trading in a has gone and gave a breakout on downside of the channel
below 207.5 the stock has high chances to fall till 200 and if 200 breaks which has most PUT writing then more fall is expected
Currently Selling pressure in Major indices and fear mood of market would Help us going short on it.
Also PUT Unwinding has started in ATMs and ITMs
Conditions for going short
1. we need a breakout on a Support or a and closing below it
2. Trade would be more accurate if the breakout is on higher time frames such as1D Time Frame
3. Selling Volumes must be higher, which would indicate a Heavy selling
4. If the selected Stock Contributes to any Index with good weightage then we must also consider
the Index performance and mood too for additional Assurance.
5. If the Stock has FnO then we must see that is any PUT Unwinding.
6.See if the Stock goes below 50dma.
If in any Cases Closes above 211.8 then We would Exit
Rejections from the previous support Trendline which
Has now become Resistance.
Probably this could be Retracement after the Breakout
Everyone stay with your short positions
Sl was Hit And I didn't Update
Once again really very sorry