Buy Apollo Tyres, support at Rs 50-53: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "First of all Apollo Tyres went down on news. Secondly, it actually stopped at some point. We have seen a lot of other stocks where the decline never stemmed. They just keep on going down and become penny stocks."

"Apollo is far from it. All it did was that there was an adverse reaction. After that for the last 15 days, it is now finding strong support at the lower levels and trying to bounce and make a small base. It is not enough. The first sign that this support will hold have come and actually an aggressive trader can really go out and buy it also. The Rs 50-52-53 area has provided support. It is a very good price to go in," Sukhani said. Also Read: No risk to Cooper deal; completion by Oct: Apollo Tyres