Buy Apollo Tyres, says Sukhani

Sukhani told CNBC-TV18, " Jaiprakash Associates is now on the verge of a breakout that will take it to new highs for this leg of the bull market or this uptrend. So this is a stock we want to buy. I just want to explain that there is no need to buy it today although we are discussing it because sometimes these breakouts and then lead to significant consolidations, which doesn't change the trend, the trend is still up but for JP it's probably wise to wait for a breakout, wait for a consolidation. So, that the weak hands are all thrown away and then to go for a big upside move. There is a very big move eminent on the upside in JP, you just have to time it properly."

He further added, "Apollo Tyres is a buy. The trader doesn't have to buy it today but he must understand that Apollo Tyre is now willing to make lifetime new highs. A stock that is doing that is always a buying opportunity. So for position traders, a couple of rupee up or down doesn't make a difference, he/she could buy it today assuming that he will get it slightly cheaper than just hold on to it. Traders must time it because it has seen a very decent rally but this is only the beginning of what I think is a very big upmove in Apollo Tyres, so always remains on the long side."