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Apollotyres,in wake of dynamic resistance and current scenario.Apollo Tyres in a really sweet spot at the moment,both technically and fundamentally. Technically is evident from chart. Fundamentally: Tyre manufacturing industry depends on mainly two raw materials. Synthetic and natural rubber. Natural rubber prices have been falling on account of prevailing risk of global trade war. Synthetic rubber is manufactured from crude oil. There have been some tensions regarding crude oil production and a general fear of Hike in crude oil prices which have now been mitigated as OPEC announced a Hike on Crude Oil production.
NSE:APOLLOTYRELong
by akshitgarg206
Plastiblends: Breakout looks good and trend is up... BULLISHPlastiblends Cmp 593 Observations from chart: - the stock has given a breakout & has come out of ascending triangle - consolidation phase within triangle is of nearly 10 months in 1st chart - this is generally a low volume stock with occasional spikes in volume - MFI & RSI are currently in overbought zone -- in the short term, stock may retrace & test breakout zone around 560 & confirm if reversal of role i.e earlier resistance to act as support zone now holds true... Given the set up - Any dips towards 560 provide good opportunity to go long for target of 680 over medium term & 840 over medium to long term. One of my friend who follows Fundamental Analysis to the core is quite bullish on the stock & has a 3 fold target over longer term. Do review and check with your financial advisor before taking any decision... As always, review your trading plan & Plan your trade accordingly...!!! Take care & safe investing.....!!!
NSE:PLASTIBLENLong
by indiamarketoutlook