SWING IDEA - APOLLO TYREApollo Tyres , a leading tyre manufacturer, is showing technical indicators that suggest a promising swing trading opportunity.
Reasons are listed below :
540-560 Resistance Zone Breakout : The 540-560 level has been a significant resistance zone. The price is now breaking out above this crucial zone, indicating strong bullish momentum.
Bullish Marubozu Candle on Daily Timeframe : The recent formation of a bullish marubozu candle on the daily chart indicates strong buying pressure and suggests potential for further upward movement.
Breaking 5-Month Consolidation : The stock is breaking out of a consolidation phase that lasted over 5 months, signaling a potential new bullish trend.
Higher Highs : The stock is consistently making higher highs, indicating a strong upward trend.
Trading Near All-Time High : The stock is trading near its all-time high, suggesting strong market confidence and potential for further gains.
Gradual Increase in Volumes : A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
Trading Above 50 and 200 EMA : The stock is trading above both the 50-day and 200-day exponential moving averages (EMA), reinforcing the bullish sentiment and providing strong support levels.
Target - 630 // 670
Stoploss - daily close below 490
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Apollotyres
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.
Keep An Eye - Symmetrical Triangle Breakout soon - APOLLOTYRE📊 Script: APOLLOTYRE
📊 Sector: Tyres
📊 Industry: Tyres
Key highlights: 💡⚡
📈 Script is trading near resistance of Symmetrical Triangle Keep an eye on stock it will give breakout soon.
📈 One can go for Swing Trade only above 515-520.
BUY ONLY ABOVE 515-520
⏱️ C.M.P 📑💰- 510
🟢 Target 🎯🏆 - 557
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
APOLLOTYRENSE:APOLLOTYRE
One Can Enter Now ! Or Wait for Retest of the Trendline (BO) Or wait For better R:R ratio
Note :
1.One Can Go long with a Strict SL below the Trendline or Swing Low of Daily Candle.
2. Close, should be good and Clean.
3. R:R ratio should be 1 :2 minimum
4. Plan as per your RISK appetite
Disclaimer : You are responsible for your Profits and loss, Shared for Educational purpose
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
How to Spot next leader ? Auto sector NSE:CNXAUTO
Relative strength compared to Nifty 50 - NIFT Auto clear outperformer since Jan 2023. Remember Nifty 50 is on downtrend while Auto is on uptrend.
Now look for stocks which have better chart pattern than NIFTY Auto.
These are going to perform better once NIFTY 50 turn positive. Some examples.
1) NSE:M_M
2) NSE:MAHINDCIE
3) NSE:APOLLOTYRE
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 !!!!
APOLLO TYRES - 240 MINS CHARTThe 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 (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves.
we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves).
Just ride the bullish or bearish impulsive move. Learn & Know the Complete Market Cycle.
buy low and sell high concept. buy at cheaper price and sell at expensive price.
Keep it simple, keep it Unique.
please keep your comments useful & respectful.
Thanks for your support....