Breakout of weekly chart in Apollotyre

2022년 8월 23일

The stock has successfully given the breakout of its important resistance.

The stock is ready for the bullish move, it will test the levels of the previous high of 307.
If the price holds the levels of 307 then it will potentially show the levels of 320.

Good for cash and futures.

Points of Analysis

• During correction of 80 weeks four exponential moving averages of 20,50,100,200 periods come close.

• The stock has given the breakout of the neckline of the Double Bottom pattern.

• A successful breakout of important resistance.

Futures
Lot size - 3500
Margin required - Rs 1,85,267.26 approx (zerodha)

Stoploss
Place a strict stoploss according to your trading style.