If apollotre break and stays over 303.6 with good volume spike then i prefer to buy it
If you take the trade the Target Will be 333.5
Stoploss will be 291.4
Entry at 303.6
>Approaching to resistance after 2018
>Preparing to break 5 years of consolidation
>forming U pattern on daily TF
>A good move can be seen after successfully >sustain above 300
We are long Apollotyre cmp 210/200 Maintain sl below 180 level upside target-300++ till dec-2022
we expect 50% return within 6 month
risk in this trade - 15% on stoploss level
Apollo tyres breached its yearlong resistance a few weeks ago, this move was retested last week, and the then resistance has now turned into support with the price moving above it in a clear uptrend.
The Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart).
Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only...
Price is testing upper levels and has already make a low point. I think to take half quantity here and half quantity @ 2nd level. Sl will be top. Which will improve RR
Using Super Trend Indicator, Buying Signal is ON, Waiting for a Retest.
Targets will be pivots.
Proper Risk: Reward is necessary.
This is for Educational purposes only.
Kindly take this idea as learning.
APOLLO TYRE - Mean reversion set up
Watch how the weekly chart is reversing from a strong demand zone.
SL - 173
Targets - 194/203
This is a swing trade.
Apollo Tyres Limited is an Indian Multinational tyre manufacturing company headquartered in Gurugram, Haryana. It was incorporated in 1972, and its first plant was commissioned in Perambra in Chalakudy, Kerala. The company now has five manufacturing units in India, one in Netherlands and one in Hungary.
