Apr 17, 2012, 02.49 PM | Source: CNBC-TV18
One can go long in Apollo Tyres on every dip, says Shardul Kulkarni of Angel Broking.
Kulkarni told CNBC-TV18, "From a trading perspective Apollo Tyres definitely looks poised for a further upmove. Stock is already at all time high and showing you signs of moving higher. So from a trading perspective the lower side support level is at Rs 86-87, so the long as the stock stays above Rs 86-87 the bull trend will continue."
He further added, "I think that every dip should be used to go long with a stoploss of around Rs 81. So I would have a target of around three digits which is Rs 100 incase of Apollo Tyres."
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According to Ashwani Gujral of ashwanigujral.com,
Net Sales are expected to increase by 1.1 percent