APOLLO TYRES

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I have bought shares of Apollo Tyres at Rs 250, The stock is not mov­ing up. Please ad­vise.

- Vishal Modi

EXIT APOLLO TYRES BE­LOW RS 236 ON A CLOS­ING BA­SIS

Apollo Tyres is cur­rently trad­ing at Rs 239. Its 52-week high/low stand at Rs 288.30/Rs 171.60 made on Au­gust 7, 2017 and Fe­bru­ary 16, 2017, re­spec­tively. The stock is trad­ing with lower tops, lower bot­toms since Au­gust 7. Though the long term trend is pos­i­tive, the stock has kind of made head and shoul­ders pat­tern on the up­side and has wit­nessed a break down at Rs 252 level on Septem­ber 22. Be­cause of poor vol­umes and the 14-pe­riod RSI quot­ing at 42, the stock is un­able to give mo­men­tum on ei­ther sides. How­ever, be­low Rs 236-230, the stock may see some more down­side. Hence, we sug­gest you to exit be­low Rs 236

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