Apollo Tyre fake double bottom formation where as L1 and L2 are new low Buy above: 168.20 SL: 161.50
APOLLOTYRE (Apollo Tyres Limited) BUY ABOVE 170
8,79,000 new short position created in Apollo tyres, Chart and F&O data suggest, Stock might break previous low in current series.
DATE : 18/19-09-2019 APOLLOTYRE BUY@ 185 STOPLOSS : 179 TARGET : 195
Short apollotyre at CMP - 177. 1st target is 170.
1.downtrend 2.tweezzer top 3.21 EMA strong resistance 4.good risk reward ration
Fakeout + double bottom buy above 192 sl 188 tgt- 196-200
good for swing trading. Channel.
Long ApolloTyre above 296. SL: 282 Target:310 R:R ratio: 1:1
Hi, Friends with previous publish we saw that it didnt close above 257.5, so till now for long we are awiating for confirmation, currently for intraday we can buy at opening price with very small sl 249 of for target 255
MARUTI has been in sustained uptrend and any consolidation has been a great buying opportunity. It has just finished a consolidation phase and looks set for another leg up. The auto sector in general has witnessed some consolidation after a very strong trend. APOLLOTYRE also looking very good for short term but MARUTI has lower volatility
Apollo Tyres (along with other tyre stocks) seems bullish in the long term as it's broken out of it's corrective downtrend channel. Earlier I'd posted updates only for MRF (links attached), but both Apollo Tyres and CEAT can be bought too with targets above their all time highs (and SL as their June/Jan 2016 low).
Apollo Tyre seems to be in it's final up move to new highs. All pullbacks (including the one going on now) can be bought (with an SL on wave IV low).