TARGET: Rs 220-225
STOP LOSS: Rs 180
The stock has made almost a double bottom formation near 180 levels forming a strong support base and has given a decent bounce to imply strength and has potential to rise further in the coming days. The RSI also has indicated a trend reversal from the oversold zone and has signaled a buy to improve the bias. With the chart looking promising, we suggest to buy and accumulate the stock with an upside target of Rs 220-225 keeping the stop loss near Rs 180 levels.
BUY APOLLO TYRES
CMP: Rs 168.40
TARGET: Rs 185-188
STOP LOSS: Rs 158
The stock has been maintaining a strong base near about 160 levels and has recovered strongly on many occasions before also and currently a similar pattern has been built with huge volume participation to anticipate further bounce in the coming days. The RSI also has recovered strongly to indicate a positive bias and with favourable indicators supporting, we suggest to buy this stock for an upside target of Rs 185-188 keeping the stop loss near Rs 158.
Disclaimer: The author may have positions in one or all of the above mentioned stocks. Views expressed are personal