Ceat a good buy: Shardul Kulkarni

Shardul Kulkarni, Sr. Technical Analyst, Angel Broking, in a chat with ET Now talks about tyre stocks.

Going ahead do you see any bit of headroom in any of these tyre stocks and do you like any of them, Ceat, MRF, Apollo Tyres, any of them?

Among the tyre stocks, actually we are liking Ceat. Ceat has given you a very strong breakout in today's trading session, so I would say that yes, you can go with Ceat, probably buy on dips. Today you can buy a few shares and average out at lower levels of probably Rs. 150 but overall the chart looks very good. The monthly chart is quite positive for Ceat, so I will say that if you look at from a perspective of around 4-6 months, yes, the timeframe is a little longer but the gains also should be good going forward.