Apollo Tyre - Strongly buy candidate above 203-205 level and support level 197-199 zone
RSI - looking strong on daily chart..
It's trading in range of rentangle shape drwan on chart.
Once breakout happen it will be shooting up to 207 to 210 level..
APOLLOTYRE (Apollo Tyres Ltd) BUY ABOVE 205.5
Price is maintaining the lower trendline any breakout above 205.5 will be a good opportunity to buy or sell.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
APOLLO HAD TAKEN SUPPORT AT 175.IT IS FORMING A FLAG PATTERN.
IF THE PRICE CROSSES 199 LEVEL, THEN NEXT TARGET IS 206.
WAIT FOR THE CROSS OVER, AS CHIKU LINE IS BELOW PRICE.
KEEP STOP LOSS AT 192.
Apollo Tyres Limited is engaged in manufacturing and sale of automotive tires. The Company's segments include India, Europe and Others. The Indian segment includes manufacturing and sales operations through India. The European segment includes manufacturing and sales operations through the plant at the Netherlands along with its subsidiaries. The Others segment includes the subsidiary in the United Arab Emirates, South Africa, Thailand and other operating subsidiaries. It manufactures tires, tubes and flaps. Its products include Passenger Vehicle, including ALNAC, ALNAC 4G, AMAZER 3G MAXX and AMAZER 4G; Commercial Vehicle, including AMAR, AMAR AT-RIB, AMAR DLX, AMAR GOLD and CARGO PLUS XR; Off Highway Tyre, including AGREX 85, BHIM, DHRUV, FX 515 (ROW CROP) and FX 525, and Two Wheeler Tyre. The Company has approximately four tire manufacturing plants, over two located in Cochin, and one each at Vadodara and Chennai.
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APOLLOTYRE
