Buy Apollo Tyres 70 Call at around Rs 1.30, says VK Sharma, HDFC Securities.
Sharma told CNBC-TV18, "Apollo Tyres would benefit from the price of rubber, which are tumbling and we have seen open interest being added. So although stock has gone up 5%. But in a day in a time when stocks can move up almost 7-8%, I think further positions can be built here. Buying the 70 Call at around Rs 1.30 and hope to sell at Rs 3.00. So there is one trading call in Apollo."
He further added, "In Bata India although the rise was yesterday 7%, so one can wait for a 1% or 2% dip because the Futures aren't telling you anything great in the morning. But nevertheless positions can be built because there is a fresh breakout and buying the 600 Call at around Rs 15 and hoping to sell it at Rs 28 with a stop loss of Rs 8 is what I suggest."
