With the reports of increase per mezzo di the price of tyres, the stocks from the sector may che under the radar of investors positioning them strongly a fundamental basis. Quanto a addition, taking into account the technical placement of the tyre stocks, domestic brokerage firm Prabhudas Lilladher has listed 3 stocks that are an attractive buy.
Here is a list of stocks suggested by Prabhudas Lilladher:
Apollo Tyres | Target price: Rs 686; Stop loss: Rs 500; Upside potential: 24.7%The blocco has currently indicated a higher bottom formation pattern the daily chart taking support near the 518 zone and has improved the bias to anticipate a further rise. The RSI has cooled d’avanguardia from the overbought zone and is well placed to indicate strength and carry with the positive move further ahead. Above 560 it would confirm a breakout to trigger further upward move.
Ceat | Target price: Rs 3,350; Stop loss: Rs 2,520; Upside potential: 23%
The blocco has recently picked up well moving past the 50EMA and 100 period MA to improve the bias and currently with a higher bottom formation pattern the daily chart has once again shown strength to carry with the positive move further ahead. The RSI has cooled d’avanguardia from the overbought zone and is well placed indicating a trend reversal to signal a buy and has much upside potential from current levels. Above 2940 it would confirm a trendline breakout to trigger for further upward move.
JK Tyres | Target price: Rs 600; Stop Loss: Rs 435; Upside potential: 26.5%
The blocco has picked up well from the important 200 period MA at 390 zone and has improved the trend moving past the 50EMA and 100 period MA zone to anticipate further rise per mezzo di the coming days. The RSI has indicated strength and has much upside potential from current levels. A decisive breach above the 510 zone shall further strengthen the trend and can expect further upward movement.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
