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Apollotyrelong

Apollo Tyres (ticker: APOLLOT)The chart provided is a daily candlestick chart for Apollo Tyres (ticker: APOLLOT) on the National Stock Exchange (NSE). Here is a detailed analysis and summary of the chart: Timeframe and Data: - Timeframe: Daily - Data Range: From around October 2023 to mid-2024 Price Analysis: - Current Price: ₹481.65 - Price Movement: The stock price has shown a significant upward trend followed by a period of consolidation. - The price increased from around ₹300 in October 2023 to a high of approximately ₹560 in early 2024. - Since reaching this high, the stock has been consolidating, forming lower highs and higher lows, indicative of a symmetrical triangle pattern. Technical Patterns: - Symmetrical Triangle: The chart displays a symmetrical triangle pattern, characterized by converging trendlines of lower highs and higher lows. This pattern suggests a period of consolidation before a potential breakout. - Upper Trendline Resistance: Around ₹500 - Lower Trendline Support: Around ₹460 Trade Setup: - Wait for Breakout: The chart suggests waiting for a "perfect breakout" from the symmetrical triangle pattern. This breakout will signal the next potential move in the stock price. - Bullish Scenario: If the price breaks above the upper trendline resistance (around ₹500), it could indicate a continuation of the previous uptrend. - Buy Target Price (TP): ₹555, which is slightly below the recent high of ₹556.35. - Bearish Scenario: If the price breaks below the lower trendline support (around ₹460), it could signal a downward move. - Sell Target Price (TP): ₹415, which is a previous support level. Conclusion: The chart for Apollo Tyres shows a symmetrical triangle pattern, indicating a period of consolidation following an uptrend. Traders should wait for a breakout from this pattern to determine the next move. A breakout above ₹500 would suggest a bullish trend with a target price of ₹555. Conversely, a breakdown below ₹460 would suggest a bearish trend with a target price of ₹415. The key action is to wait for a confirmed breakout in either direction before making a trading decision.
NSE:APOLLOTYRELong
by The90sTraderOfficial
Apollo Tyre made Double Bottom(W Pattern in Daily Timeframe)!!!!Double Bottom Formation in Apollo Tyre As we can see Apollo Tyre made Double Bottom pattern in Daily Timeframe and price has taken support on 50 EMA . The Apollo Tyre is trading above the 50EMA. Now it is trading near it's resistance zone 324.60 . Today is has closed above 324.60( above its resistance level). Now we can expect it can go further up upto it's second resistance level . We can avoid entry in this stock right now because it doesn't fullfill our Risk To Reward Ratio. In this trade the Risk To Reward Ratio is 1:1.15. We need atleat 1:1.5 or 1:2. So i am avoiding this trade because it doesn't qualify as per my calculations. Not Recommended to Trade but i am giving the important levels (Risk to Reward Ratio= 1:1.5) Entry = Above 325.35 Stop Loss = Below 315.60 Target = Target 1 = 337, Target 2 = 340.25
NSE:APOLLOTYRELong
by Avinash9087
ApolloTyer long position TradeApolloTyer long position for Cash/Futures ApolloTyer into Demand Zone now, you can take the entry from 209.30-210 with the Stop loss if a daily candle close below 202 then exit with a loss Stay Tuned with us on social media as well as Trading View for future updates. What we believe in:- °Trade With Logic °Take Time Before Investment Saving Your Capital 🙂 I'm not responsible for your profit or loss. Mainly Stock & Crypto Investor 🕵️ | The Indus Trader 📊 DISCLAIMER:- This Channel Is For ( EDUCATIONAL PURPOSE )
NSE:APOLLOTYRELong
by The_Indus_Trader