Apollo Tyres Technical Analysis, Consolidation Near Resistance

The daily chart of

indicates a period of lateral consolidation following a strong uptrend that peaked in late 2025. The stock is currently oscillating within a defined range. After hitting a high near ₹540 in November/December, the stock entered a corrective phase. It is currently trading in a broad range between ₹480 and ₹530. There is visible buying interest around the ₹480 - ₹490 zone. The recent bounce from this level suggests that buyers are defending this area aggressively. The ₹530 - ₹540 zone remains a major hurdle. The stock has faced multiple rejections here, forming a "double top" like structure in the medium term. There was a significant volume spike during the recent sell-off near ₹480, followed by decent buying volume. This "churn" suggests that weak hands are exiting and stronger players might be accumulating at lower levels.