Prices retracing from trendlines concept

Apollo Tyres is currently retracing after facing resistance near the rising trendline. The trendline is acting as dynamic resistance around ₹455–₹465. The recent rejection from this area indicates profit booking and selling pressure. The price has failed to sustain above the trendline, keeping the breakout attempt pending. As long as the stock remains below ₹455–₹465, consolidation or further retracement is possible. The ₹440–₹430 zone can act as an important near-term support area. If buyers defend this support, the stock could again attempt to move toward the trendline. A decisive breakout above ₹465 with strong volume would signal renewed bullish momentum. Until then, the current move can be viewed as a trendline rejection and retracement. Traders should watch the ₹430–₹465 range for the next directional move.