Buy Apollo Tyres, says Sudarshan Sukhani

Buy Apollo Tyres, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I will buy Apollo Tyres. It has completed its correction. It has fallen from Rs 100 to Rs 78-79 and that is a very deep correction. Now it is building a base and maybe even making serious attempts to go up. So charts are conducive for a long opportunity. Day traders as well as position traders should consider this."
He further added, "As an individual trader I have the option of not trading a stock or an instrument, so among the auto stocks Ashok Leyland is my least favourite. So I would not trade it, it would not even consider trading it because M&M and Maruti Suzuki are far superior to the instrument. But if somebody wants to trade Ashok Leyland then the trade is to be long because the trend is up. It bounced back from its lows. It is suggesting there is momentum on the upside at higher levels, probably Rs 28-29. So for somebody who wants to, go long but I would prefer the better blue chips."