fbpx

Prabhudas Lilladher: Top 3 Tyre Stocks to Buy for Up to 25% Gains

Tyre stocks have been rising in the past few months, with Apollo Tyres and JK Tyres seeing gains of about 16%. With tyre prices expected to increase, these stocks are attracting investors. Prabhudas Lilladher, a domestic brokerage firm, has recommended three tyre stocks as good buys.

Here are the top picks by Prabhudas Lilladher:

  1. Apollo Tyres
    • Target Price: ₹686
    • Stop Loss: ₹500
    • Upside Potential: 24.7%
    • Analysis: The stock is showing a higher bottom formation pattern, with support near ₹518. The Relative Strength Index (RSI) is favorable, indicating strength for further growth. A breakout above ₹560 could trigger more upward movement.
  2. Ceat
    • Target Price: ₹3,350
    • Stop Loss: ₹2,520
    • Upside Potential: 23%
    • Analysis: The stock has gained momentum, moving past key moving averages (50EMA and 100MA). It shows a higher bottom formation pattern, with the RSI signaling a trend reversal. A breakout above ₹2,940 could lead to further gains.
  3. JK Tyres
    • Target Price: ₹600
    • Stop Loss: ₹435
    • Upside Potential: 26.5%
    • Analysis: The stock has improved its trend, moving past important moving averages (50EMA and 100MA) after picking up from the 200MA at ₹390. The RSI indicates strength, and a breakout above ₹510 could drive further upward movement.

These stocks are seen as strong investment opportunities based on both their technical and fundamental positions.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

We will be happy to hear your thoughts

      Leave a reply

      Share Price India News
      Logo