NSE:APOLLOTYRE is making a bearish triangular pattern
It can give a good fall starting tomorrow. However if the base trend line of triangle is not broken then the stock will move into sideways trends for some time. Inn that case it may not be good bet for the expiry.
Monday's trade for sept expiry: Sell below 248. SL 252. Overall (not limited to expiry) Tgt...
TECHNICAL -It is been observed on the WEAKLY chart that the stock is forming continuous higher top higher bottom and with a uptrend line and a triangular pattern which can breakout soon, but a MULTI YEAR resistance @120.
FUNDAMENTALS -Rise in tea prices will led to higher margins and profits, with passing of GST TEA & coffee sector is going to get a huge benefits...
Tyre Sector has been in focus from past 2 days due to falling Crude & Rubber prices & with 9000 broken in upside the laggards will start to catchup.
Now, it shall further move up from here with support of the channel.
Target: 136(Very Short term)
Stoploss: 122 (Closing Basis)
Target: 149 (Short term)
Stoploss : 117