Ceat can move upto Rs 125-130: Angel Broking

Ceat can move upto Rs 125-130, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "The mid and small caps space offers very good opportunity. So I think overall we are seeing that Tyre stocks are giving very strong patterns from a breakout perspective. Ceat, MRF as well as JK Tyres, all the three stocks have already given you breakouts."
He further added, "In case of Ceat, we would expect that the stock moves upto around Rs 125-130 levels over the next couple of trading sessions. You are seeing that the stock is forming a flag pattern and should move on the higher side. A stop loss should be placed at around Rs 107 levels. We would expect the stock to move higher going forward."
"ABG Shipyard has also given you a very good breakout. So I would expect another 5-7%. It