NSE CASH – SELL APOLLOTYRES

NSE CASH –   SELL APOLLOTYRES AT 251 TGT 247 245 244 SL 255

 

Apollo Tyre is  a tyre manufacturing company ,with annual revenues of Rs.140.53 million. The company markets its products  under our two global branche Apollo and Vredestin. We gave a sell in it . Following are the points on behalf of which we gave a sell call :

• Crossover of 5 SMA and 60 EMA.
• ADX above 20 , indicates strong selling trend .
• RSI, below 30 indicates over sold region.
• Fundamentally , Q4 FY 17 results were not good , revenue declined by 43.73% , net profit declined by28.56% , OPM declined to 11.61%.