Investors with a short-term horizon can sell the stock of Apollo Tyres at current levels. The stock has been in an intermediate-term downtrend since encountering a key resistance at ₹300 in August 2018.

Medium- as well as short-term trends are also down for the stock. On Tuesday, the stock breached a key support at ₹175 by tumbling 4 per cent accompanied by above average volume. It hovers well below the 50- and 200-DMAs.

Overall, the short-term outlook is bearish for the stock.

It can extend the downtrend and reach the price targets of ₹160.50 p and ₹157.50 p in the ensuing trading sessions. Traders can sell the stock with a stop-loss at ₹171.