Apollo tyres

٢٩ نوفمبر ٢٠٢٢

Apollo tyres, is looking currently in good momentum upside, it has broken resistance trendline along with good intensity of volumes along with challenging upper Bollinger band, also trend indicator macd is supporting same trend right now.
As per Elliott wave projection it shows possibly we are in wave 3rd of wave 5th on daily time frame, which is a cautious sign to be ready for profit booking phase in near term and be very alert to book profits at near targets, also RK's mass psychological indicator is suggesting to go long, some highlights are shared below one can go through them to understand this study.

wave structure possibilities on daily chart


RK's mass psychological indicator signals positive


chart pattern breakout with good volumes


macd in daily positive crossover above zero line


macd running positive in weekly


rsi breakout in daily and its uptick above 60


price challenging upper bands on daily chart


dmi adx positive strenght


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Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.