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Buy RIL on dips, see tailwind in tyre stocks: Bonaz Capital

Bonaz Capital of told CNBC-TV18, “Reliance Industries is looking like it has bottomed, but it needs momentum above say Rs 1,340 before you can say that it is beginning an up move. However, overall, I think downside is now limited on RIL and on dips it should be bought.”
“Ceat has been going up for last two to three sessions. I don’t know if you can buy today, but the uptrend is consistent. So, any sort of dips should be used to buy. I would not be surprised if at some point Ceat goes to Rs 2,000. Tyres are going up as a group. So, Apollo Tyres, MRF, everything is going up. So, right now, just buy on dips and this sector has a huge amount of tailwind behind it,” he added.