Apr 25, 2013, 02.06 PM | Source: CNBC-TV18
In CNBC-TV18's popular show Bull's Eye, Parag Doctor of Keynote Capital shares his trading strategies for the day.
Parag Doctor (more)
Head - Trading Strategies, LKP | Capital Expertise: Equity - Fundamental
Ashok Leyland has made a base formation around Rs 20-21 levels and now has started a medium-term uptrend. The stock can be bought with immediate stop loss of Rs 22 and a target of Rs 24, which is where the longer term 200 day moving average is placed. If the Rs 24 level is crossed, in the medium-term then Ashok Leyland could be headed to around Rs 26-27 levels.
BF Utilities has made good base around Rs 250-260 levels and has started an uptrend. BF Utilities can be bought with an immediate stop loss around Rs 270 levels and a target of Rs 290. On the upside the medium-term target around Rs 320-330 levels is possible where there is longer term resistance for BF Utilities.
Bharat Forge has made excellent base formation around Rs 200-210 levels in the medium-term. The stock has started a short-term uptrend and can be bought with a stop loss of around Rs 230 levels, an immediate target of Rs 245. In the medium-term Bharat Forge could be headed higher to test its 200 day average around Rs 260 levels.
Escorts has good base formation around Rs 50 levels and has started a short-term uptrend. The stock can be bought with immediate stop loss around Rs 55 levels and a target of Rs 60. In the medium-term Escorts could be headed to around Rs 65, which is where the longer term 200 day moving average is located.