Apollo Tyres has been trading in the bearish trend and trading in the bearish channel, it closed green on week end and seems not enough strong to breakout upward. It may test the channel resistance and again may trade in channel support. Traders may enter short at slight higher price somewhere between 191-191.50 for better entry price and small stop loss with a...
It is been observed on the hourly chart that the price action breaks and closes above the previously down trending trendline, indicating a strong bullish move ahead. Now it shall further move up to next resistance levels at 210. Target: 210 Stoploss: 193
Completing W4/alternate count W4.W with internal structure ZZ. Apollo trye can have immediate trend up for a X wave r W5. immediate short term target can be 203 which is the TL resistance. Long term targets if its W.V is 223/244/256/278/297 if W.4.X then 207/212/217 Entry 193 SL 188 Target 1 203 Target 2 TSL risk 5 ROR 1 2
Apollo tyres is looking bearish and approaching to near term support to 190.23-190.00, further upward may be seen tomorrow if market open green up to 204.00 else it may seem to remain in bearish mode. trader may go short in Apollo tyres for a safe target up to 190.50.
Break of up trend line, on verge of negative ema cross-over
MRF is not giving any signs of reversal. One can continue holding this stock till we get the start of a corrective move. Other tyre stocks like CEAT and Apollo Tyres as posted earlier (check the attached links) can be continued to be held (till any visible reversal signs).
ApolloTyre has given a Breakout from its Correcting Trend Channel Indicating the upmove has started and confirmed on the upside.. One can go long the stock at current levels or on some corrections retesting the breakout levels around 170 with Stoploss around 152 and long term higher targets of around 270/290. The Third wave has just started and may or may not give...
Wonderful breakout was observed in APOLLOTYRE. The same trend followed. Touched Support 1 level and again Resistance 2 level same again and again. The Stock is in correction mode, once it is settled, it may make a new high. The RSI is also following the same pattern. Very soon we can see 200 level in APOLLOTYRE... but before that 160 level which is again a S1...