Apollo Tyers Weekly Chart – Elliott Wave Outlook

Technical Overview
Apollo Tyers has shown a strong structural uptrend over the past few years. Using Elliott Wave Theory, the stock appears to be completing a classic 5-wave impulse pattern on the weekly chart.

Elliott Wave Count Breakdown

• Wave (1) to (3): A clear and powerful uptrend, supported by increasing volume and price acceleration.
  
• Wave (4): Currently in progress – the stock is undergoing a complex corrective structure, often seen in Wave 4 phases.
  
• Wave (5): Yet to unfold. Based on Fibonacci projections, the minimum target for Wave 5 is ₹650.
  

Key Observations

✅ The price took strong support at the 200 EMA on the weekly chart — a crucial indicator used by institutional traders to gauge long-term trend strength.

🔄 The ongoing correction seems to be complex (likely WXY or triangle-based) rather than a simple ABC.

📐 Fibonacci levels suggest the next leg higher (Wave 5) could target the ₹650 zone, with further potential beyond if momentum sustains.

Strategy Insights

If the corrective Wave (4) is indeed near completion: APOLLOTYRE
Investors may look for confirmation via a breakout above recent consolidation highs.

Traders can wait for trend confirmation with volume and price action before entry.

Stop-loss could be managed below the 200 EMA or below the recent swing low of the corrective move.