APL Apollo Tubes Ltd., a company in the iron‑and‑steel sector, has just broken out of a two‑month trading range.
What the chart is showing
For the past month the share price has been moving around its 100‑day exponential moving average, forming a rounded bottom pattern on the daily chart. This pattern often signals that the downtrend is losing steam.
Why the breakout matters
In the last few days the stock gathered strength and pushed above the consolidation zone, indicating that buyers are stepping in. Short‑term traders are eyeing a price target of about Rs 2,100 in the coming weeks.
- Consolidation around the 100‑day EMA for nearly a month
- Rounded bottom pattern suggests potential reversal
- Breakout from a two‑month range shows bullish momentum
- Target price: Rs 2,100 for the next few weeks
What investors can consider
If you’re comfortable with short‑term moves, you might think about buying on dips, aiming for the Rs 2,100 target. As always, keep an eye on overall market conditions and the stock’s volume to confirm the trend.
Disclaimer
Remember, this is just an analysis, not a guarantee. Do your own research and consider your risk tolerance before making any trade.