Avoid Rolta India; Buy Apollo Tyres: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one should avoid Rolta India. However, one can buy Apollo Tyres.

Sukhani told CNBC-TV18, “There is nothing in Rolta India. Some times these midcap stocks, any stock will go and rally and there is some news or inspired news but the charts of Rolta are not suggesting that the big upmove is coming or even a trend is getting established. So I would avoid it.” He further added, “Apollo Tyres is a different story. It rallied. It reached Rs 102-103 and it went through a deep correction all the way to Rs 80. That’s as deeper correction as Apollo Tyres would see. Yesterday there were signs that the correction is getting over now and it was in my buy list in the morning. I would say Apollo is a buying idea; it’s a nice idea for day traders, short-term traders as well as people who want to take positions for few weeks to months. Day traders have to keep their stops because if the market comes down they cannot hold it but position traders should buy it now and hold on to it.”