Apollo Tyres Limited

Update : 

02 June 2021 - Day 5
Apollo Tyres Limited (Rs.221.8)

This stock was recommended  on 27/05/2021  at Rs.222.10. On 01/06/2021, this stock closed at Rs.221.80.  Today this stock hit the high of Rs.227.85. Last three sessions are negative sessions in the range of Rs.225- Rs.222. However this stock is well placed in the upmove. The upmove is expected to lift the stock.  Supports  are located at Rs.221 / 218.5 /217

Targets : 228 / 236 / 241 / 245
Stop Loss : Rs.218.70. 

Stock Tip : 

27 May 2021 - Day 1
Apollo Tyres Limited (Rs.222.10)
NSE Symbol : APOLLOTYRE

Current Trend Uptrend to Flat with positive bias

Brief background : Current upmove originated from the price level of Rs.200 between 13th and 20th April 2021. Price range of Rs.215-220 acted as a resistance during the period 3rd to 26 May 2021. Now the stock is expected to break this resistance level and test upper levels.  Buzzing positive momentum is spotted in this stock. See the chart below.

Supports : Supports exist at price levels of Rs.217 / 215.5 / 211.

Targets : Rs.228 / 236 / 241 / 245 in the next 5 to 7 trading days.

Stop Loss : Rs.218.7

Exit Point : Rs.216

Note  : Exit point is the place where the stock is going to reverse the current upmove.  Hence, holding of long positions based on the above stock tip below this point may result in considerable losses.