Jan 27, 2017
APOLLOTYRE (Till March Expiry)
This stock in February series corrected from Rs. 188 with good amount of short formation.
However, we saw this counter showing strength thereafter but it was mainly due to some fresh
long additions. At present, Rs. 188- Rs. 189 is an immediate resistance. Rollover data suggests
that shorts formed during start of February series are still intact. Hence, we expect some short
covering rally which may lead this stock rallying above the resistance zone. Thus, traders are
suggested to form fresh longs for the target of Rs. 201.
Sneha Uttam Seth
022-3935 7600 Extn: 6824
Profit Booked on 01-02-17
Research Team Tel: 022 - 3935 7600
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