Go long on Apollo Tyres, Ranbaxy Labs: Sukhani

Sukhani told CNBC-TV18, “There is always a risk in buying stocks in anticipation but Apollo’s charts are upbeat. We saw a double top that broke down from Rs 92-93, it’s gone and completed its targets. For the last 4-5 days Apollo is in a trading range and yesterday it did well. So I would assume that the market is anticipating pleasant results. But apart for the results purely on the charts Apollo is a buying opportunity. You start with a day trade and if it works out really it needs to be converted into a positional long.”

He further added, “There will be a lot of follow through in Ranbaxy. It has been doing all the right things, the corrections are mild. Stocks that go up tend to go up. One of my favorites in this show has been Asian Paints and from Rs 3000 I have been thinking it can't go up further but anyway I have to buy it and it keeps on going up. I think Ranbaxy is coming into that stage. So we want to go long in Ranbaxy in the open, wait for the first 5-10 minutes. If the stock price begins to move up don’t worry about it, just go long. It’s one of the better trades for the day.”

Disclosure: I have no holding or interest in the stocks discussed.