Buy Hexaware Tech, Mahindra Satyam, Yes Bank: Doctor

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

Hexaware Technologies has been in a good uptrend in the midcap IT space and has a very strong base formation around Rs 80-85 levels. The stock is breaking out on the upside above the resistance around Rs 92-93 levels and can be bought with a stop loss of Rs 90 and an immediate target of Rs 96. Hexaware is likely to go up in the medium-term to a target between Rs 105-110 levels.
Satyam Computer Services (Mahindra Satyam) has made a fresh 52-week high after breaking past resistance which was around Rs 125 levels. The stock can be bought with a stop loss of Rs 124 and an immediate target of Rs 134. The base for Satyam Computer is very strong between Rs 100-110 levels which is likely to propel the stock higher in the medium-term to around Rs 145-150 levels. Yes Bank has been one of the strongest banks in the private space. The stock has formed support around Rs 470 levels from the 100-day moving average and now has started an uptrend. It can be bought with an immediate stop loss around Rs 484 and a target of Rs 504. In the medium-term Yes Bank could regain its 52-week high which is around Rs 540 levels. Apollo Tyres has been struggling around its resistance level above Rs 90 and up to Rs 93 levels. The stock has started a short-term downtrend and can be sold with a stop loss of Rs 92 and an immediate target of Rs 87. In the short-term Apollo Tyres could go lower to around Rs 85 levels where strong support should emerge.