Sell Mcleod Russel, Titan Ind; buy Jubilant Food: Doctor

In CNBC-TV18's popular show Bull's Eye, Parag Doctor, Keynote Capital shares trading strategy of the day.

Jubilant Foodworks has been in a strong uptrend ever since it has bottomed out around Rs 1,050 levels few weeks back. The stock has crossed the long-term 200 day moving average (DMA) and is headed higher to an immediate target around Rs 1,290 and can be bought with a stop loss of Rs 1,230. In the medium term, Jubilant Foodworks could be headed higher to test its all time high around Rs 1,350-1,400 levels.
Karnataka Bank has been a volatile bank in the private sector space and it has bottomed out in the recent past around Rs 125-130 levels, which is the base from the long-term 200 DMA. The stock can be bought for a short-term target around Rs 148 with a stop loss of Rs 140. Karnataka Bank could he headed higher in the medium-term to a target around Rs 160-165 levels which is where the overhead resistance from the 100 DMA exists.
Mcleod Russel has been in a downtrend for some weeks now ever since it has started trading below its 20 DMA and 50 DMA. The stock topped out around Rs 370-380 levels, which remains a strong resistance. In the short-term, McLeod Russel has headed lower to immediate target around Rs 340 and can be sold with a stop loss of Rs 355. In the medium term, McLeod Russel could be headed towards Rs 325-330 levels, which is a support from the 200 DMA. Titan Industries has been in a strong downtrend ever since it broke down below the 200 DMA, which is around Rs 250 levels. The stock can be sold with a stop loss of Rs 237 and an immediate target of Rs 222. In the medium-term, Titan Industries still has momentum on the downside and could be headed lower to around Rs 205-210 levels, which is where the support exists in the weekly charts.