A part of the now famous and in demand APL group of companies.
This stock had a breakout around 415 (My first purchase price) and now is on the verge of a bigger breakout (above 465).
Positional buy only above 466 with a SL below 435. If due to volatility markets are deep in the red then SL can even be shifted higher.
Apollo Pipes Ltd. faced resistance from 200 SMA and breakout in the stock to take place only above swing high of 360. RSI failing to enter overbought area may be looked as a short term sign of weakness in the stock. Crucial support on the downside comes at 310-315 which may be looked at short term accumulation area for the stock. Keep a watch.
FOR COMPLETE STOCK...
The promoter has been buying the stock off the market. Has recently picked up 5% off the company. Super management.
I would add this in multiple phases. First long above 333 and triple up above 355. (Yes triple only if it properly breaks above 355)
SL after first entry SL 320, If tripled up above 355 SL at cost.
I expect markets to be volatile this week, so...
Apollo Pipes Ltd. engages in the manufacture and trade of pipes. Its products include plumbing, irrigation, and agricultural pipes and fittings. The company was founded on December 9, 1985 and is headquartered in New Delhi, India.