The outlook is bullish for APL Apollo Tubes. The stock has been in a strong uptrend since mid-February this year. The rise over the las two trading days has taken the share price well above the 100-Day Moving Average resistance at ₹1,555. The level now act as a strong support. Below this, ₹1,535 is the next important support. Moving average cross over on the daily chart strengthens the bullish case.
APL Apollo Tubes share price can rise to ₹1,720 over the next few weeks. Traders can go long now at ₹1,596. Accumulate on dips at ₹1,565. Stop-loss can be kept at ₹1,525. Trail the stop-loss up to ₹1,620 as soon as the stock moves up to ₹1,645. Move the stop-loss further up to ₹1,660 when the price touches ₹1,680. Exit the long positions at ₹1,695.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
![comment](https://assetsbl.thehindubusinessline.com/theme/images/bl-online/1x1_spacer.png)
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.