Morning Star in Apollo Tyre, Above 236 on Closing basis


Morning Star Pattern in the daily chart. Morning Star is a bullish sign following a downtrend which consists of three candles which are in order to capitalize on a trend reversal to the upside. The stock has seen a 25% fall from the highs of 300 in past two months.

Now the stock is showing signs of recovery as it has taken the support of lower Bollinger band (229 approx), as the price is showing strength and buy is triggered above 236 on the closing basis with a target of 256 - 262. Thus, Apollo tyre will see the price moving faster above the 5 DEMA High (242 approx) and 34 SMA being at (262 approx) could be a better place to book profits for the buyer." data-username="AMPLIFYKOLKATA" data-message="asksdfds">
Apollo Tyre daily chart has formed a Morning Star Pattern in the daily chart. Morning Star is a bullish sign following a downtrend which consists of three candles which are in order to capitalize on a trend reversal to the upside. The stock has seen a 25% fall from the highs of 300 in past two months.

Now the stock is showing signs of recovery as it has taken the support of lower Bollinger band (229 approx), as the price is showing strength and buy is triggered above 236 on the closing basis with a target of 256 - 262. Thus, Apollo tyre will see the price moving faster above the 5 DEMA High (242 approx) and 34 SMA being at (262 approx) could be a better place to book profits for the buyer.
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