APLAPOLLO.NSE

APL Apollo Tubes Ltd.

Indian markets ended higher on Wednesday, breaking a three-day losing streak. Gains in healthcare, telecom, and capital goods drove the recovery, with key stocks like Bharat Electronics and APL Apollo Tubes hitting 52-week highs.

APL Apollo Tubes is nearing its all-time high of ₹1,800, supported by strong technical momentum across timeframes, according to the analyst. The stock shows bullish continuation with key support seen at ₹1,750.

The Indian market reversed Monday’s gains, with the Sensex dropping nearly 1,300 points and the Nifty slipping below 24,600. Despite the broader weakness, BSE, Redington, and APL Apollo hit fresh 52-week highs. Analysts see breakout opportunities in these stocks, citing strong volume trends and bullish price action, with defined upside targets and stop losses for the near term.

Indian markets closed in the green, demonstrating resilience after India's actions in Pakistan. Auto and bank stocks supported the indices, while FMCG and pharma stocks lagged. Analysts suggest Nifty may consolidate between 24,000-24,550, recommending buying opportunities in stocks like Tata Motors, KPR Mill, Bharat Forge, APL Apollo, and Power Grid based on technical indicators and potential breakouts.

The Indian market is expected to trade lower on Wednesday due to weak global cues, with growing caution as reflected by the rise in India VIX. Experts note indecision in the derivatives space, marked by significant open interest around the 23,500 and 24,000 strike levels. Nifty faces resistance near 23,900-24,000 and support at 23,500. Short-term stock recommendations include APL Apollo, ITC, and Coal India.