The stock could breakout short term above 110.50/111.
SL 2.5% below for short term traders and SL below 104.50 for positional traders.
For longer term investors Apollo has completed a capex cycle and launched a new factory in Andhra Pradesh.
Apollo and other tyre companies can also be a good anti china trade coz cheap tyres from china would be in the first ban list because domestic capacities have gone up.
Apollo has bad ratio's which will now improve going ahead because the capex cycle is over and they would hope for a potential turnaround in the european business as well which they had projected would start turning positive from later this year/next year.
SL 2.5% below for short term traders and SL below 104.50 for positional traders.
For longer term investors Apollo has completed a capex cycle and launched a new factory in Andhra Pradesh.
Apollo and other tyre companies can also be a good anti china trade coz cheap tyres from china would be in the first ban list because domestic capacities have gone up.
Apollo has bad ratio's which will now improve going ahead because the capex cycle is over and they would hope for a potential turnaround in the european business as well which they had projected would start turning positive from later this year/next year.