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
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
Target 250 - 253 - 259
RR Ratio : 3
RSI is also confirming the trade decsion.
Disclaimer : All ideas are my personnel view. Please take...
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
CLEAR DOUBLE BOTTOM FORMATION
VOLUME PICTURE NOT SHARED
IF FEARING THE FALL CHOOSE OPTIONS
BUY 240 CE@2
Based on my xMRSI-Progresser predictive trading methodologies, its going to be a GREEN candle on 15-Oct-2018 for APOLLOTYRE
Buy Above(5Min candle close): 217.6 for targets -
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and...
NSE:APOLLOTYRE at at multi months support and is showing rebound from there
Short term trade setup
Buy at 202-204
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 education...