APOLLOTYRE trade ideas
Apollotyre ShortNSE:APOLLOTYRE
Entry : 229
Stop Loss : 237
Target 01 : 222
Target 02 : 236
Target 03 : 198
Apollotyre- LongWeekly chart observation-
1. Reverse head & shoulder pattern formed- Bullish formation
2. Price took resistance from neckline but made symmetrical triangle- Bullish formation after uptrend
Less volumes while consolidating in symmetrical triangle range. RSI in second shoulder is much higher than the first one, which shows bullish divergence.
If it breaks the symmetrical triangle & neckline(very close to it) with power candle & volume, our first target will be all time high which I marked there. Also, it came out as the calculated target for symmetrical triangle too.
Breaking the first target line with power candle & volume will lead us to our next target i.e. 410, as per calculated target for Reverse H & S pattern.
Please place a logical SL taking major support line on weekly time frame into consideration. Also this a weekly time frame analysis so time to achieve target will in months.
Happy Trading! :-))
Price rebound after talking support at 50 day EMA and higher Daily Stochastic generated bullish crossover suggest upward bias
Target 229.40/232.00
Price rebound after talking support
at 50 day EMA and higher
Apollo Tyres - Bullish BreakoutApollo Tyres had given a clear bullish breakout after a retracement, so give an entry with appropriate Stop loss
Aggressive traders enter at the breakout and conservative traders may give entry after retracement
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Apollo tyreApollo Tyre:
Daily TF is making higher lows signaling
an upside momentum, some demand should show up in volume..
But one has to wait and see if it gives a
breakout and move side ways or move up.
Avg days for a move of 70rs has taken 50days.
if its bullish it has to reach 290 level in another
2 months.
Low risk set up ✌✌This scrip one can consider for Low Risk set up as it on the trendline. So traders, keep on your radar to catch the momentum.
trade setup for apollotyre1. inverted head and shoulder pattern
2. typical morning star
with this reference apollo tyre heading a good up move
follow your technicals
APOLLOTYRES TARGET 235 CMP 227Open interest buildup is very good in the stock and also there is H&S Pattern which may lead to target 235+ soon
Head and Shoulder pattern formation in ApollotyresHNS formation complete in Apollotyres
Stock is in process of retesting neckline at 220 to 222 Zone. Once retest this stock could move higher.
Buy in staggered manner till 215 level with SL @ Rs 199 Closing basis
Do your own analysis before investing.
Fundamental reasoning is that Promoters are aggressively accumulating this stock since last 1 year. This gives confidence on the business front.
APOLLO TYRES: Bullish Peannant Upside 20%Stock is in an uptrend for the last 2 months moving with 0.3-0.5 fib retracement. Now pennant is been formed for the next bull run with 20% return in between next 2-3 months if broke the current higher high.
Points to be Note (Technical + Fundamental)
1. Pennant Structure
2. In up-trend for last 2 months
3. Fib levels are 0.3-0.5 & Relative strength restest the positive level. For now, you have to just look at the breakout.
4. Above Critical demand zone
5. P/BV ratio is highly above 1
6. P/E is considerable to Industry standards (double)
7. Net profit is significantly increased
8. Reserves are increased by 15%
9. Promoters have diluted their shares
10. For sure Apollo will hit the 20% up. As their peer, the JK tires is in bull run form last 6 straight sessions
7. ROCE is affected but above YOY 2020 is 10%
Let me know in the comments what's your views?
Trade set up One can wait for Price to reach buy set up , and Look to book at per your comforts
Good luck
APOLLO TYRESAPOLLO TYRES
weekly chart
forming inverted head and shoulder
near to breakout
bullish rsi
bullish macd (enter )
bullish stochastic
buy cmp @ 238
sl @ 198
target @ 402
