Apollo Tyres Ltd. slips below ₹400 as momentum weakens

Apollo Tyres Ltd closed near ₹398.80 after slipping below the ₹400 mark, placing the stock beneath its 20-day average of ₹403.93. The 55-day average near ₹421.61 remains substantially higher, showing that the broader recovery has not yet regained strength. Price has been forming lower highs since the August peak, and the latest decline keeps the short-term setup under pressure. The stochastic oscillator is also turning cautious. %K is near 39.54 and below %D at 46.86, indicating that momentum has weakened after the recent bounce. This is not an oversold reading, so there is room for further consolidation if support does not hold. A move back above ₹404 would be the first indication that buyers are returning, while ₹422 is the stronger resistance level that needs to be crossed for a more durable recovery. ₹390 is the immediate support. A decisive breakdown below it may bring the May–June low zone around ₹370–₹380 into focus. On the upside, ₹404 and ₹422 are the key levels to monitor. Apollo Tyres benefits from replacement demand and commercial-vehicle activity, but the technical picture is still neutral to weak. The stock needs to defend ₹390 and reclaim the 20-day average before the trend can improve.