CEAT may hit Rs 165 levels: Rohit Shinde

ET Now caught up with Rohit Shinde, AVP, Technical Research, CD Equisearch Pvt. Ltd., to get his view on the tyre stocks.

Most of these tyre companies at least today have shown very smart moves in the entire pack. Would you have any favourites?

Tyre companies have shown very good strength today. So within that, Apollo Tyres looks very strong. It is approximately 9% up, around 70 levels. It is making higher tops and higher bottoms above the moving averages and can easily get a target of Rs 80-85 in the short term. Even CEAT is looking very good today. It has just bounced back from the lower levels. Currently, it is quoting at around Rs 154 levels and has broken out of this flat pattern and now above Rs 148, it is looking to go towards Rs 165 levels.