APOLLOTYRE trade ideas
M shape chart formed in APOLLO TYRE APOLLO TYRE an M shape
at levels 193-255
265- 230
234-257
TARGET 257
Watchout for Resistance breakoutThe stock looks good above 251 level - (255-256) is some resistance.
Apollo Tyres above 248.75Apollo Tyres above 248.75 for 15 mins with stop below 237 can show 258 and 269
Cup and Handle Pattern in APOLLOTYRECup and Handle Pattern in APOLLOTYRE, watch for breakout opportunity.
Apollo Tyre Fibo + Demand Zone + Multi time Frame In 15 mins stock is nearby its lower trendline, Currently undervalued as shown by the valuation band in 1st chart. Also standing on Demand zone.
In 2Hrs timeframe it has completed 61.80% retracement and also nearby 100 ema.
The Indicator Used:
PANEL 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame Charts.
2) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.
PANEL 2:
1) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
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The analysis is my POV, hope you got bucks in your pocket to consult a financial advisor before investing :P :)
HAPPY TRADING!!!
APOLLO TYRES - Strong AccumulationApollo Tyres is in a range bound where we can spot strong accumulation. Price takes good support at previous resistance zone. One can accumulate when the price is in the accumulation zone and as the price breaks the high of the mother candle we could see some good up move with momentum.
Price might stay in this zone for a few days. More the accumulation time, stronger will be the breakout momentum !
Please trade considering your risk appetite !
APOLLO TYRE - Get ready to explodeAfter breaking out with High Volume, Stock going in accumulation for long
Should continue upward move.all observations on chart.
Could've been good BTST trade, expecting anew swing high.
Above 255 i.e. current swing high, can touch 275 as per fibonacci levels
apollotyre made a high of 243 We shared apollo tyre at support of 236 yesterday.
Today the same support was a resistance as per parallel channel and it broke to touch a high of 243 ( which another resistance) if you see at the top .
One only needs to decides which line to trade and then go with conviction and little risk.
1. triangle pattern
2 or downtrend symmetric channel pattern NSE:APOLLOTYRE
Apollo tyre is range bound and waiting for a breakout NSE:APOLLOTYRE I have used 1 hour time frame
236 seems to be a very strong support
If market is bullish we can go long at 236-239 for a target of 247 for swing traders and intraday traders wait for breakout at 247.
Some people prefer range bound trading, can buy between 236 to 247 anytime
If we make the time frame to 15 min, more buying opportunities can be seen
Remember : Dont always look for price, confirm with RSI and MACD and SQZMOM indicator along with good volumes
Apollo TyresWait for a proper BUY signal. I will update the same in Update Idea section. All the probable reversal zones ie. the retracements and trendline has been drawn. Be cautious and don't hurry to initiate a LONG position. Its okay if we miss the stock and the stock moves upwards. But buying or selling a stock without knowing the consequences is really dangerous.
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Chart and Analysis By - Adarsh Dey
