APOLLOTYRE CONSOLIDATION BREAKOUT The stock has finally broken out towards the upside after a lengthy period of consolidation, and all signs point towards potential gains. With the momentum firmly on its side and various technical tools indicating a clear path towards higher levels, now is the time to consider jumping on board. Apollotyre has the potential to soar towards price targets of 400/450/500+ and beyond!
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APOLLOTYRE trade ideas
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
APOLLOTYRE SHORT - 11.04.20231)WXY correction completed at 303.40
2) Again wave XX completed at 327.50.
3) stop should be place at 333.50 on a closing basis.
4) short should be initiated at cmp 328.50.
5) target should be 295 - 285
6) time duration within 40-45 days maximum.
7) Trade advice - sell APOLLOTYRE 330 CALL @ 6.5 AND WAIT FOR APRIL EXPIRY. ( TGT PROFIT 3500 X 6.5 = 22750 RS / CAPITAL 225000 - ROI @ 10% WITHIN 15 DAYS)
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APOLLOTYRE - Bullish Swing ReversalNSE: APOLLOTYRE is closing with a bullish swing reversal candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
#NSEindia #Trading #StockMarketindia #Tradingview #SwingTrade
Disclaimer:
This is for educational purposes only.
Important Levels in Apollo Tyres (Daily Timeframe)I have marked some important levels of Apollo Tyres. Keep in mind Price levels are not considered as pin point price. These levels can be treated as price zones so there could be buffer in prices. Kindly observe the behaviour when price reaches to these levels and trade only after retest means when price successfully establishes Support/Resistance. By using these it prevents you from false breakouts as well as false breakdowns.
APOLLOTYRE Short idea$APOLLOTYRE has made a spinning-top (small body and long wicks) with very high volumes at a resistance. Stock was also making bearish divergence and has now closed below RSI 60. For a swing entry, short below spinning-top's low and place stop between open and close of the candle and target 2-3 times of the candle. For intraday, wait for a break below the swing low with momentum for a target till swing low of the day.
APOLLOTYRES- Consolidation BreakoutApollotyre was consolidated in a very narrow range from one month and a breakout was given from the consolidated range retested that level and there is a high chance to momentum will keep on the upward side and give a good Risk Reward ratio.
Entry Level:- Above @340
Stop Loss:- Below @320
Target:- 1:1 or 1:2
APOLLO TYRE SWING IDEA 2 HOUR TFHello 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 movement.
THANK YOU !!!!