December 15, 2015
Apollo Tyres (NSE Cash)
BUY
` 143
` 149 - 148
` 160
5 - 10 sessions
146
144
154
161
Bullish
Source: Falcon (Time - 09:45 IST)
The prices have corrected in last few months and are currently trading near the medium term support
zone.
On daily charts, the stock has formed a ‘Bullish Piercing’ candlestick pattern on daily charts.
The formation of reversal pattern near the support zone indicates that the prices can give a pullback
rally in near term.
Also, the ‘RSI” indicator is showing positive divergence on daily charts.
Thus, we advise traders to buy this stock from current level and on correction up to ` 149 for a
target of ` 161 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be
kept at ` 144.
December 15, 2015
Apollo Tyres (NSE Cash)
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