01 September, 2010

APOLLO TYRES (CMP:73)


RECOMMENDATION : Buy at cmp
Target - 88 , Stop : 68.50, Time - T+9 days

Rationale :
Elliott Perspective :Wave 1 and wave 2 completed around 59. Fall from 78 to 70 odd seems corrective and comprises the 4th wave of the 3rd.
Traditional Perspective : Fall from 78 to 70 odd comprises the classical pullback after the breakout.

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