the HEAT in TYRE stocks may COOL down for a while !!Bfore 16/04.I AM bearish on the overall tyre sector upto MONDAY 16/04 ...& certain levels AS it has given a good run already and should take a pause , correct a bit , retest levels , and then can climb high ! OVERALL THE RAW MATERIALS REQUIRED , SHOULD BE KEPT CLOSE EYES ON !!
Tyre
JKTYRE-BROKEN THE TRIANGULAR PATTERN & UPTRENDINGTyre 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)
RR: 1:1.3
Target: 149 (Short term)
Stoploss : 117
RR: 1:2
Plan the Game for APOLLOTYRE - BreakoutWonderful 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 Level for the stock.
Happy Trading