Sell Allahabad Bank, Crompton , Opto Circuits: Doctor

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

Sun TV Network has been outperforming the rest of the stocks because the media sector has been doing well in the recent times. The stock has found technical support around Rs 410 levels from the 100 days moving average and started an uptrend. Sun TV is likely to go higher to immediate target around Rs 438 levels and can be bought with a stop loss of Rs 421. Allahabad Bank has been struggling in the recent days as it failed to cross the overhead resistance from the 200 day moving average around Rs 145 levels. The stock has started a short-term downtrend and can be sold with a stop loss of Rs 143 and a target of Rs 135. The public sector undertaking (PSU) banking space has been facing pressure in the recent times and that could lead to Allahabad Bank testing its lows around Rs 125-127 levels in the medium-term. Crompton Greaves has been part of the capital goods, infrastructure space, which has been market performer in recent weeks. The stock has had a sharp pullback rally from the mid Rs 80 levels to around Rs 100 where it is facing selling pressure. Crompton Greaves can be sold with a stop loss of Rs 99 and a target of Rs 94. Opto Circuits India has been facing pressure around Rs 60 levels after it saw a dramatic pullback rally from mid Rs 40s to around Rs 60 mark. The stock can be sold with a stop loss of Rs 60. The stock in the medium-term could retest its levels around Rs 45 mark or so.