Oct 18, 2016 10:42 AM IST | Source: CNBC-TV18

Short Ceat, MRF, Apollo Tyres: Ashwani Gujral

Ashwani Gujral of is of the view that tyre stocks like Ceat, MRF and Apollo Tyres are nice shorting opportunities.

Ashwani Gujral of told CNBC-TV18, "The kind of vertical rallies that tyre stocks are sitting on, these sort of accidents are waiting to happen. So, on all tyre stocks, probably another 10 percent can be easily had on the downside. So, today if you get any rally on those stocks, there could be nice shorting opportunities both on CeatMRF, and Apollo Tyres, all of them."

"Some midcaps are doing well, so Lloyd Electric which is up already 5 percent could have a fairly significant day on the upside. So, individual stocks is probably you go with because today it seems we will be range bound. However, at higher levels, if 8,580-8,600 does not get crossed then you will again have a decline like we had in the second half of yesterday. So, watch out and see what happens with 8,580-8,600," he said.
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