APOLLO TYRES Share Tips, Technical Analysis Chart, Intraday Stock Trading Graph Advice - Stock will be facing strong support at 160, weakness expecting if closes below. (Updated On 27th August 2014, Wednesday).

APOLLO TYRES

• As per previous post published on APOLLO TYRES stock closed below 164.50 and touched 161 and bounced back. So gave a false breakout. (Click here to see previous report published on APOLLO TYRES).
• Now daily chart indicates that stock will find strong support around 160, If Apollo Tyres closes and stays below 160 then further weakness is expecting. Chart also indicates that stock is coming down from its 50 Days moving average , so as long it trades below it will be favored by bears.
• Intraday share tips - Close watch once stock starts trading below 160, if holds below during market hours then intraday weakness is expecting.
• As per graph no 2, below 160 , stock will find strong support around 157.50 its 50%  fibonacci retracement below that will find support around 155 its trend line.
• Suggested Reading - SAIL facing strong trend line support at current levels , weakness expecting is closes below till then will favor bulls.
• As per graph no3 , stock is also coming down from strong trend line resistance, this will favor bears.
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