Apollo tyres ltd on a daily chart stock price is
trading above 20 DMA & 50 DMA, indicate stock is well placed above the
support level. On a daily chart stock price at Rs. 229.15 has given the
breakout of rounding pattern at Rs. 223, indicate rally will continue towards
north. Momentum oscillator RSI on daily chart have more room left on upside, which
add more bullishness for the stock price.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 229 for the target of Rs. 242/248 levels, with Rs.223
stop loss on closing basis.
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