Prefer Ceat, says SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "Ceat and JSPL are in F&O ban for the day. Tomorrow if it comes out, that is a different case but if you really see Ceat seems to be a super high beta stock. When you talk to few people they said this is the best stock which equally bounces back very fast. It shows you the correction also which it has shown Rs 250, if you see post numbers, number came out may be on October 26 or October 27. It was definitely a flat number, but it was not so bad which warrants a correction of maybe Rs 250. However, the best part is you are unable to take a call and sometimes F&O bans are the instrumental for making so much corrections on the lower side and again maybe bouncing back, we have seen that happening in the past, may be in the stocks like Wockhardt and all that. So, again to take a general call, all the tyre stocks are up today, may be marginally up by 2-3 percent but Ceat in fact people have gone quite short and it has got in F&O ban for last 3 or 4 days. So, probably that is instrumental for that and I am expecting that huge buying is coming back into the stock. I won't be surprised to see this momentum continue may be till expiry.""If you really ask me the safest or the best stock to trade in the tyre space is Ceat. May be MRF becomes very expensive, Apollo Tyres and the other tyre stocks are not very reliable. So, this is traders favourite as well as investors favourite plus the market makers have a lot of interest. So, may be this trading momentum or may be this buying momentum should continue till expiry. One has to keep a track in the F&O ban daily. If it continues to remain in the ban then you can play only on intraday, you can't take a position, otherwise as an investor I think this gives a good buying opportunity for a gain of may be about Rs 60-100 till expiry," he added.