APOLLOPIPE : A Two-Zone Buy Setup with Strong Upside PotentialApollo Pipes Ltd. (APOLLOPIPE):
Current Price: ₹491.65
Chart Observations:
This stock has completed a primary corrective wave (A-B-C) , forming a liquidity zone around ₹474–₹490.
A deeper secondary buy zone is identified between ₹398 and ₹417, which aligns with the extended Wave C retracement.
The chart exhibits a Change of Character (ChoCH) , signaling a potential reversal, followed by a bullish impulsive wave projecting toward higher levels.
Buying Levels:
First buying zone: ₹474–₹490
Second buying zone: ₹398–₹417 (for positional traders).
Stop Loss:
For Zone 1 Entry: ₹396 (on failure of Wave C structure).
For Zone 2 Entry: ₹380 (a safer placement below structural support).
Target:
First Target: ₹707
Second Target: ₹739
Pro Tip to Avoid SL Hunting: Observe a sustained bullish price action above ₹490 (such as higher highs and higher lows) before committing to the first entry zone.
Disclaimer: This analysis is for educational purposes only . Investments in stocks and financial markets involve risks, including the loss of principal. Always conduct your own due diligence or consult with a certified financial advisor before making any investment decisions.
