Buy Apollo Tyres closer to Rs 122: Sahil Kapoor

Sahil Kapoor of Edelweiss RCM Research told CNBC-TV18, "We have been advising Apollo Tyres for quite some time. Today's breakout is again a very good opportunity to play another round of momentum in this stock. The readings that we are seeing of outperformance on Apollo Tyres compared to other midcap stocks is very encouraging. Closer to Rs 122 I think Apollo is a good buy. With a stop loss below Rs 116 you could target about Rs 132-135."

"Today the stock has already made a new 52-week high. So, the overhead resistance has also been taken out. One could bet on it. On intraday dips also one should be looking to buy and look for exit closer to Rs 132-135 range," he added.