NSE:APOLLOPIPE
cmp 740
after consolidating between 680-720 zone,
now it looks set for its new upward journey
The objective of this analysis is knowledge sharing and education. There isn't any buy or sell advise in this article. Every stock is held for a short to medium amount of time and is positional.
It is expected of each person to carry out independent...
Chart -> Apollo Pipes Weekly
CMP: 583
Good range: Around 550
Targets: 666, 722 and 780
SL: 530 weekly close
Disclaimer: This is for educational purposes only, not any recommendations to buy or sell. As I am not SEBI registered, please consult your financial advisor before taking any action.
Apollopipes is looking strong for a breakout even in this bear market. We can see around 10% move when breakout of triangle pattern is completed and sustained.
Buying at resistance can be risky, especially in such market.
Apollo Pipe is currently trading at 578 that is 16% lower than its recent High which coincides with its Bonus Issue date
Almost a similar pattern was seen in APL Apollo tubes as well which fell by 25% after Bonus Issue and then made a Higher High
The share gave a strong bounce of 7% today and rose above 50 RSI
In the weekly chart as well, we find the MACD...
Apollo pipes in consolidation mode and it is preparing for another big move.
Keep it in radar.
Chart is self explanatory.
Price action is in range.
RSI is >50%
Disclaimer: This is an education chart and not a recommendation. Please invest as per your risk and reward appetite.
As per price action double top + break trendline + follow Elliott wave analisys + MACD Crossing + Volume Conformation Analisys Setup.
Note: It need to open flat on monday . if open gap up or down more then 0.20% we will ignore it
