Buy Apollo Tyres 75 Put: VK Sharma

Sharma told CNBC-TV18, "Although Apollo Tyres had done well largely based upon the fact that the raw material prices had gone down, stock had touched a high of almost Rs 84. But currently my sense is the entire industry is down largely fairing that now it may be turn of the tyre industry to face the wrath of the CCI. So to the extend if you have had a large portfolio in Apollo, my suggestion would be to buy the 75 Put which was available at around Rs 2 and if you are a trader you can put in probably a stop loss of Re 1 and hope to make Rs 3 on that."