Buy Apollo Tyres, target Rs 195 in short term: IIFL

Pritesh Mehta of IIFL told CNBC-TV18, "One can buy Apollo Tyres. On the daily chart, the stock has given a breakout from a bullish wolf wave and now it has completed its fifth wave which gives a target estimated price arrival of around Rs 200. On the short-term charts once the level of Rs 188 is conquered, then we can see breakout from falling wedge as well. So this is a right time to buy for a short-term target of Rs 195."At 15:07 hrs Apollo Tyres was quoting at Rs 180, down Rs 1.45, or 0.80 percent. It has touched an intraday high of Rs 184.70 and an intraday low of Rs 178.90.