Apollo Tyres: Breaks Resistance

APOLLO TYRES Daily NSE Stock Chart Technical Analysis:


Apollo Tyres closed at 65.85, above its resistance.

Market Outlook:

• Breaking of the resistance is a bullish signal. There is an opportunity to buy with a quick intraday target of 70.

Technical Indicators:

• The breakout may find problem in sustaining considering the low qty of trading during the day.
• 70 is an important level to cross tomorrow.  
• The monthly chart (not shown here) tells us that closing above 70 will be a real bullish indicator.
• If December does not close above 70, I would be doubtful about a rise in Apollo's share price.

APOLLO TYRES Daily NSE Stock Chart Technical Analysis