Apollo tyres
CMP 229.65
The stock looks likely to be loosing its grip. It may be looked for downside target of 224 / 221 in the short term
View gets invalidated if trades above 233
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NEW YEAR TRADE
APOLLO TYRES HAS MANAGED TO BOTTOM OUT
AND IS MOVING HIGHER WITH THE SUPPORT OF
A UPWARD TRENDLINE
TRADE THE TRENDLINE AND USE THE ABOVE
LEVELS FOR SUPPORT
BUY@235
STOP@225
TARGET 1@245
TARGET 2@255
LOT:3000
QTY:1
The stock seems to have reversing the downtrend. It has formed double bottom with higher RSI reading and now trading above the Neckline. It is offering a good Risk to Reward trade as details given below
Entry 221
SL 212
Target 250 - 253 - 259
RR Ratio : 3
RSI is also confirming the trade decsion.
Disclaimer : All ideas are my personnel view. Please take...
resistance + bad result + rsi (over bought) ->short
if 2 red candles develops than go short.
SL: 224
short if candle sustain below 221.
T1->212
T2->210 (swing)
1) Bounce with double bottom from long term trendline
2) ok result with good accumulation ; currently at trendline
3) Fundamentally apollo tyre biz should have tailwind of lower rubber and crude cost - trades at 13-P/E
4) High sale of CVs in last 2 years will have stronger replacement demand which will have better margins
POSITIONAL TRADE IN APOLLO TYRES
NOVEMBER FUTURES
CLEAR DOUBLE BOTTOM FORMATION
VOLUME PICTURE NOT SHARED
BUY@215
STOP@200
TARGET@250-60
QTY:3000
IF FEARING THE FALL CHOOSE OPTIONS
BUY 240 CE@2
TGT @8
QTY:3000
NSE:APOLLOTYRE at at multi months support and is showing rebound from there
Short term trade setup
CMP 207
Buy at 202-204
SL 193
Target 229 / 245
Remember on a longer term the stock is still in bearish mode.
Markets are highly risky right now. Trade as per your capacity only.
Disclaimer: I'm not a SEBI registered adviser. The chart is published for...
As on 16/09/18, Apollo tyres may fly from the current level as per fibonacci and trend line. Buy when the share crosses 247.20 for targets 251.80/257.55/260.45 with stoploss 230.60
