Apollotyres
Apollo tyres buy above 217.50Hello guys, hope you are doing well.
Apollotyres has given a parallel channel breakout, last time it did this there was a good upside momentum
Buy above - 217
Targets are marked above in the chart.
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Apollo Tyres Ltd - 10.12.2021Apollo Tyres Ltd - 10.12.2021
The stock is trading @ 217 levels
The prices are @ support levels
Stochastic overbought in daily chart
Prices are above ema
There is a DOJI in daily chart
There is a HAMMER in weekly chart
Let the prices go above 219
watch out for the price action
Apollo Tyres Ltd - 09.12.2021Apollo Tyres Ltd - 09.12.2021
The stock is trading @ 216 levels
there is MACD Bullish Divergence in weekly chart
the prices are above ema
one can initiate a buy position @ current levels with support @ 209
the stock will see a further upside movement above 223
watch out for the price action
Apollo Tyres strong resistance at Rs.224Apollo tyres is forming scalene triangle pattern which is having strong support at Rs.203 and strong resistance at Rs.224. Though the stock was able to break out Rs.224 Resistance level in last two occasions, the break out could not sustain and fall back to its earlier support level. Major price movement is not expected till it will have strong break out at Rs.224 and to test the next resistance level of Rs.245. wait and watch.
APOLLOTYRE | TRIANGLE BREAKOUTEvident from the chart is a breakout of a triangle forming since April'21. Trade with buying above 240 for targets of 277 with SL 218.
Please take trades after making your own analysis. This chart is a showcase of my analysis alone, & the trade mentioned is one I'll be taking based on my convictions. This is NOT a trade recommendation.
Thank you & Wish you all a successful trading day!
Journey From BEAR to BULL...LOGIC,LEVEL AND TARGET WELL MENTIONED IN THE CHART
NOTE -The above interpretation from the chart is my personal view and doesn't guarantee any success.
(Do talk to your financial advisor before making any investment decisions)
please like, share and comment if you have any suggestion regarding this analysi
APOLLOTYREApollo tyre, this stock has not seen a deep correction which is typically happens in wave (2), instead, the stock has gone through a phase of consolidation and the weekly macd indicator has turned positive, the recent bullish crossover in the weekly macd indicator boosted the next step of up move which has been started with breakout along with good intensity of volume in daily time frame, wave structure also suggests the same direction of upside, one can go long at these levels or in dips ( if any ) with mentioned key levels on charts.
key levels and wave structure
breakout candle with good intensity of volume
another view of breakout head and shoulder pattern too
another view of breakout flaf and pole pattern
breakout with bbc
macd in weekly
macd in daily
rsi in daily uptick above 60
dmi adx positive ungali setup
Disclaimer
i am not sebi registered analyst
my studies are for educational purpose only
please consult your financial advisor before trading or investing