The stock is consolidating within its overall uptrend. The trend line support around ₹510 has been holding very well since the beginning of this week.
The 2.9 per cent rise on Wednesday indicates that the upmove in the stock could be gaining momentum. That increases the chances of seeing a bullish breakout of the current consolidation above ₹540 in the coming days. Such a break can take Apollo Tyres share price higher towards ₹575 in the short term.
Video Credit: Businessline
Traders can buy Apollo Tyres shares now at ₹535. Accumulate on dips at ₹525. Keep the stop-loss at ₹505 initially. Trail the stop-loss up to ₹540 as soon as the stock goes up to ₹548. Revise the stop-loss up to ₹552 and ₹563 when the price goes…
