Buy MRF & Phillips Carbon: Kotak Securities
ET Now talks to Shrikant Chouhan, Senior Vice President Technical Research, Kotak Securities on Tyre companies.
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| ET Now talks to Shrikant Chouhan, Senior Vice President Technical Research, Kotak Securities on Tyre companies.
Since the managements were telling us that they could not see why tyre stocks were rolling so fast, certainly the market sees it differently, you have got to view on CEAT, MRF, Apollo and is there an upside?
Tyre stocks are in the fifth and final leg because we have seen more euphoric round in all tyre stocks. So we may see some more rally maybe in Apollo Tyres or maybe in Phillips Carbon which is related to the same industry but I do not think that other tyre industry can do well.
MRF is always a very golden buy on declines because the stock is excellent if we look at the broader pattern of this stock, we can expect even 9000-10000 maybe after one year but the stock is really good. So MRF is the stock to buy on each declines, Phillips Carbon is a stock to buy. Rest others, we have to buy on declines or sell at rally, it is better to sell at rally.
Since the managements were telling us that they could not see why tyre stocks were rolling so fast, certainly the market sees it differently, you have got to view on CEAT, MRF, Apollo and is there an upside?
Tyre stocks are in the fifth and final leg because we have seen more euphoric round in all tyre stocks. So we may see some more rally maybe in Apollo Tyres or maybe in Phillips Carbon which is related to the same industry but I do not think that other tyre industry can do well.
MRF is always a very golden buy on declines because the stock is excellent if we look at the broader pattern of this stock, we can expect even 9000-10000 maybe after one year but the stock is really good. So MRF is the stock to buy on each declines, Phillips Carbon is a stock to buy. Rest others, we have to buy on declines or sell at rally, it is better to sell at rally.
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