Apr 17, 2012, 02.49 PM IST | Source: CNBC-TV18

Go long in Apollo Tyres on every dip: Kulkarni

One can go long in Apollo Tyres on every dip, says Shardul Kulkarni of Angel Broking.

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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