Sell Delta Corp, PFC: Parag Doctor

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

Dabur India has been a stock in a strong uptrend and is a part of the defensive FMCG sector. The stock broke out of its old 52 week high with Rs 113 and has been consolidating above that since. The stock is expected to move to a fresh 52 week high around the Rs 118 levels, the stop loss being at Rs 113 which is just around the old 52 week high. McLeod Russel is a stock which is at a new 52 week high and is also in a defensive sector. The stock broke out of the range around the Rs 300 mark and has a target of the breakout around Rs 325 to Rs 330 zone. The immediate target for the stock is Rs 325 and can be bought with a stop loss of Rs 313. Delta Corp is a candidate for a short with the stop loss of Rs 68 and a target of Rs 64. The stock has developed strong resistance around the Rs 68 to Rs 70 zone after having an uptrend from the Rs 55 mark to around Rs 70 levels. PFC has a strong up trend from the Rs 160 zone to around the Rs 190 mark where it is now facing resistance. The stock is expected to fall to recent support around Rs 179 and can be sold with a stop loss of Rs 189.