Ceat is a buy: Devang Visaria

Devang Visaria, Chief Strategist, devangvisaria.com, in a chat with ET Now talks about Ceat Tyres.

For a short-term guy, would this be a good time to pick up tyre stocks because they rallied quite a bit? Talking about an Apollo or an MRF or a Ceat, would you buy into any of those at current levels or would you wait for lower levels for buying these?

I think you could initiate short-term trading for long position on Ceat Tyres at this level - 177. Right now it is very close to supports of 174 or so. So with a stop below 172, you can look to buy Ceat Tyres, you can get an upside of 5-7% possibly back to 190-195 kind of levels with a three or four day horizon.