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Price moves to observe.
Double bottom setup in process. if breaks out, buy with target mentioned.
Price Moved Above 21 EMA.
Above 23.6% Fibonacci.
Risk Reward Favourable.
Other Details Mentioned In Chart.
Positional View For Educational Purpose Only.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
resistance + bad result + rsi (over bought) ->short
if 2 red candles develops than go short.
short if candle sustain below 221.
1) Bounce with double bottom from long term trendline
2) ok result with good accumulation ; currently at trendline
3) Fundamentally apollo tyre biz should have tailwind of lower rubber and crude cost - trades at 13-P/E
4) High sale of CVs in last 2 years will have stronger replacement demand which will have better margins
long and long
APOLLOTYRE Short if red candle is formed
Short on 216.75 break with SL as 223.40.
The pattern forming here seems to be that of a double bottom which might result in a possible recovery.
Short on 213.55 break with a SL as PDH.
POSITIONAL TRADE IN APOLLO TYRES
CLEAR DOUBLE BOTTOM FORMATION
VOLUME PICTURE NOT SHARED
IF FEARING THE FALL CHOOSE OPTIONS
BUY 240 CE@2
Apollo Tyres is forming a descending triangle on the hourly chart here. Indicative of a further downfall for the stock...
With BIG RSI positive trend, this stock should go for another 10 % from 196.
Long on 209.60 break with SL as 205.60
Short on 205.60 break with SL as 209.60
Very Promissing movment. buying level is 220 with stop loss 200 with a target of 256.