Apollo Tyres has tanked 20% to Rs 73.65 on the BSE after the company said it will acquire US-based Cooper Tire & Rubber Company in an all-cash transaction of around Rs 14,500 crore ($2.5 billion).
So should you buy Apollo Tyres at the current levels?
Check out the trading strategies for Bank Nifty and other stocks with Mohit Gaba, Independent technical analyst & trader.
Smartinvestor : India VIX has spiked to nearly 20 levels or so. Do you foresee volatility falling from the current highs?
Mohit Gaba : Given we have fallen so much there is a good chance volatility will drop down, as we might consolidate around present levels and trade sideways before our next move.
Smartinvestor : What is your view on Apollo Tyres which has dipped over 18 per cent today?
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