Apollo Tyres ranging between 50 and 75.: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about Apollo Tyres.

What is the call on any of the tyre stocks and Apollo Tyres in particular?

Apollo is basically ranging between 50 and 75. So anytime it gets to 50, which is generally because of rubber prices, it becomes a buy. In these stocks, take your 20 bucks and move out. I do not think there is a great trend but probably ranging kind of moves.

If tomorrow prices go up again, it is likely that you will see a correction. So these are basically pseudo commodity type of stocks. You need to keep an eye on the underlying commodity here. The other tyre stocks also seem to be doing the similar thing, correcting when rubber prices go up and going higher when they correct.