APL Apollo below the 20 MA; ₹2,083 support is now crucial

closed near ₹2,112 after a minor red session. The stock has corrected from the recent ₹2,250 area and is now below its 20-day average at ₹2,148, showing short-term selling pressure. The latest candles suggest that the recovery is losing pace near the recent high zone. The 55-day average near ₹2,084 is still below price and is the immediate support to watch. MACD is below its signal line and the negative histogram is expanding, indicating that momentum remains weak for now. A bounce can occur from support, but it needs confirmation through a close back above the 20-day average. ₹2,083 is the key support. A close below it can extend the correction towards ₹2,000. On the upside, ₹2,148 is the first hurdle, followed by ₹2,200. Steel prices, construction demand and volume growth in structural tubes remain important factors for the company.