Apollo Stock Analysis

Apollo Stock Analysis: Potential Breakout Opportunity

🚀 Technical Setup:
Apollo's stock is showing a promising setup, with a breakout above a descending trendline in sight. The stock has been consolidating in a triangular pattern for months, with reduced volatility and volume contraction signaling accumulation.

Key Levels to Watch:

Buy Trigger: Above ₹105 (confirmed breakout level).
Stop Loss (SL): Day's low below the breakout candle to manage risk.
Target: ₹170, offering a potential upside of 62.4%.
Volume Perspective:

Volume Spike: Recent sessions have shown above-average volume, indicating growing interest among buyers.
Volume Buzz: 45% above the average, confirming active participation.
Strategy:

First position added during the accumulation phase near ₹98.41. A second tranche can be added once the stock clears ₹105 with conviction.
📊 Risk-Reward Ratio: Favorable setup for traders seeking high-probability breakouts. Adherence to the SL ensures disciplined trading.

📈 Outlook:
With strong volume support and a clear breakout trigger, Apollo stock could embark on its next leg up. Watch for sustained buying momentum and confirmation above ₹105.