Buy Apollo Tyre, says Sukhani

Buy Apollo Tyre , says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I would bet on Apollo Tyre & Balrampur Chini . Balrampur was in our buy list today morning. Most sugar stocks are showing some minor signs of life that maybe the bottom is coming at least in the short term but Balrampur is an outstanding performer. It’s been going up. It went through a very brief correction and has resumed its advance, so it is a stock which we would bet on irrespective of what the other sugar stocks do."

He further added, "Apollo Tyre has done the right things - gone through a deep correction and recovered, rallied. Currently the stock is worth buying into. The chances are that once it breaks out it should go into uncharted territory; it is a very attractive stock to own."

"In JSPL I think there is an opportunity to short. This has been in the sell list for sometime and that persistence continues. After stocks fall a lot it is possible that the relief rallies may come sharply and suddenly, so that the traders should be aware of which means essentially one should keep a stoploss and have the discipline to use it. I would expect JSPL to fall another 20% from current levels."