Hello TradingView community and my followers, please if you like the ideas, don't forget to support them with likes and comments, thank you very much and here we go.
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APOLLO TYRE
2 hour : It has gave breakdown of Ascending Channel, now it is in bearish retracement and confirmed resistance.
*Wait for the opportunity at resistance and we could see an upside...
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
