The short-term outlook is bullish for Apollo Tires stock. Monday’s 2.8 percent gain suggests that bullish momentum may be gaining momentum. The price action on the daily chart for the past one week also shows a bullish pattern. Immediate support is at $317. Below that, $313 and $308 are the next important supports. For now, however, the downside is most likely capped at ₹317. Apollo Tires stock price could rise to ₹350-355 in the next two to three weeks. Traders can go long now. Accumulate on drop at ₹320. Keep the stop loss at ₹312. Watch for the stop loss to $331 as soon as the stock price rises to $336. Move the stop loss up to ₹338 when the price touches the level of ₹341. Set take profit at ₹345.
Note: Recommendations are based on technical analysis. There is a risk of loss in trading