APOLLOTYRE

Fundamental Analysis- Apollo Tyres Ltd is one of India’s leading tyre manufacturers, founded in 1972 and headquartered in Gurugram. The company produces tyres for passenger cars, trucks, buses, and off-highway vehicles, with a strong presence not only in India but also in Europe. In FY24, the company reported revenue of ₹25,184 crore and a net profit of ₹1,508 crore. Technical View- As seen on the daily chart, Apollo Tyres is currently stuck between its 200-day, 55-day, and 14-day EMAs, indicating a phase of indecision. The RSI is trading around 51.00, suggesting that the stock is likely in a sideways and consolidation phase. In the short term, the MACD appears weak, but the Parabolic SAR is showing a positive signal, indicating a mildly bullish bias. However, both the MACD and RSI are not giving a clear directional indication at this point, highlighting uncertainty in the immediate trend. Looking at the recent price action, the stock made a low of ₹435.60 on 23rd June, marking the end of a correction phase and has shown good recovery since then, making a high of ₹471.00 on 3rd July. On 4th July, the stock opened at ₹462.95, touched a high of ₹466.60, made a low of ₹456.35, and closed at ₹459.15. Notably, the stock is taking strong support near its 14-day and 55-day EMAs on the daily chart. On 2nd July, the stock made a low of ₹448.70 and closed significantly higher at ₹470.00, followed by some mild profit booking. Technically, any dip near the 14-day and 55-day EMA zones can be seen as a good buying opportunity for long-term investors, with a stop-loss below ₹445.00. On the upside, the stock has the potential to test levels of ₹475.00 to ₹480.00, which will act as immediate resistance. Warning- ***** ***** *****