Trade Spotlight: How should you trade Apollo Tyres, GRM Overseas, ACC, Avanti Feeds, Can Fin Homes, and others on March 10?

About this update from Avanti Feeds Limited

The benchmark indices closed flat after rangebound trading on March 7, while the bulls maintained their lead over the bears in market breadth. A total of 1,693 shares saw buying interest compared to 957 shares that were under pressure on the NSE. The market trend is expected to remain positive amid consolidation. Below are some trading ideas for the near term:Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis SecuritiesApollo Tyres | CMP: Rs 411.7Apollo Tyres recently formed a swing low near Rs 371 before making a sharp rebound. The stock has broken out of a falling channel on the daily chart, indicating the start of an uptrend. A significant increase in trading volume at the breakout signals strong participation, which reinforces the bullish momentum. Additionally, the Relative Strength Index (RSI) has crossed above its reference line and has broken its downward-sloping trendline, further confirming the positive outlook.Strategy: BuyTarget: Rs 450, Rs 460Stop-Loss: Rs 393GRM Overseas | CMP: Rs 249.34GRM Overseas has recently broken out above a Cup and Handle pattern at Rs 246, accompanied by a strong bullish candle on the daily chart. This signals the beginning of an uptrend for the stock. It is currently trading above key moving averages—20, 50, 100, and 200 SMAs—indicating its strength. Additionally, a breakout above the upper Bollinger Band has triggered a buy signal, further supporting the bullish momentum.Strategy: BuyTarget: Rs 285, Rs 300Stop-Loss: Rs 232Welspun Corp | CMP: Rs 795.25Welspun Corp has recently broken out of a Symmetrical Triangle pattern that has been forming since late November 2024, indicating the start of an uptrend. The surge in volume accompanying the breakout confirms strong market interest. Furthermore, the RSI has crossed above its reference line, generating a buy signal and supporting the bullish momentum. If the stock maintains its position above the breakout level, we could see a continuation of the uptrend toward higher resistance zones.Strategy: BuyTarget: Rs 850, Rs 880Stop-Loss: Rs 763Rajesh Bhosale, Technical Analyst at Angel OneACC | CMP: Rs 1,885.75Towards the end of 2023, ACC initiated a strong rally from the Rs 1,800–1,850 zone, surging sharply to around Rs 2,700 within just three months. Following this stellar run, the stock entered a gradual corrective phase, retracing back to t...

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