Apollo Hospitals have been trading in a range and is expected to continue in same for some trading sessions, Apollo Hospitals have UPPER Breakout at 1370 followed by INTERIM RESISTANCE at 1381 followed by FINAL RESISTANCE at 1403, On the lower band, LOWER Breakout is placed at 1353 followed by INERIM SUPPORT at 1337 which is followed by FINAL SUPPORT ZONE...
APPOLOTYRE has just started the upper momentum from a continous day downfall from higher levels, APOLLOTYRE must face first INTERIM RESISTANCE at 166 followed by the FINAL RESISTANCE at 176 on the other hand the INTERIM SUPPORT is placed at 153.70 followed by the FINAL SUPPORT placed at 144. Please trade cautiously and consult your financial adviser before...
APOLLOTYRE (Apollo Tyres Ltd) BUY ABOVE 205.5
Price is maintaining the lower trendline any breakout above 205.5 will be a good opportunity to buy or sell.
Short Apollo Tyres as Head & Shoulder pattern formed and confirm
Take Short positions once it's breaks 20 Days EMA with a Stop Loss of 226.70 for Rs 50 move downside.
Note: This is my personal view based on the technical charts and data
It looks like Apollo tyres is in its Flat pattern (ABC) completion on the DAILY time frame and is currently continuing to finish the next leg of the C wave. The correction within the C (The running flat) wave is done and now its heading lower towards the "A" @ 126 levels from where its most likely to reverse and go upwards. Long positions could be avoided and a...
The stock has retraced completely and it is likely to test the fibonacci level of 23.66% (Rs 222)
The stock has a support zone around 200
Aim for a target of 218 and then 222
SL - 205
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