JK Tyre : Stock is in downtrend but charts says that stock has taken support multiple time near 140 . Buy on dips near 140 with stop below 137. Add more if trades and sustains above 148. Below 137 stock can show free fall upto 127-25. Have a look at charts :
CEAT Tyre : After making Double Top near 2000 stock has retraced to almost 61.2% fibonacci level and hit 1418 during last week. Stock has taken support at same level twice earlier too. One should take long call here and on dips keeping stoploss at 1350. Have a look at daily chart :
Weekly : Weekly charts shows further weakness below 1400 for 1100 in coming weeks while on holding 1400 stock may hit 1750 soon.
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Apollo Tyre : Stock is trading rangebound for last 1 year and in short term downtrend from last 1-2 months. On Friday stock closed below its short term support of 282,however shown good recovery from day low 274 which is a long term trendline support. Technical indicators like RSI, William %R are still in negative zone and indicating further downside. Risk lovers can add on dips near 274 with sl 269 for bounce upto 283-87 however below 270 possibilities are of testing 255-50 are higher .
MRF : Almost 6 month ago MRF was advised when it was near 72800 to be added on dips near 69800 for 25% move in coming months, Stock did 81400, and now again trading near 74000 after retracing almost 38.2% of its previous rally from 61000 to 81400.On Friday stock took support from long term trendline as shown in chart. Accumulate with sl below 73200.
Balkrishna Ind : Stock is in downtrend, however found some support near 1180, Stock can show fireworks once able to sustain above 1230 and targets will be 1325-1450. But if failed to hold 1180, 1080 on cards in short term. Have a look at chart:
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