Buy Arvind, Karnataka Bank, Sterlite Ind: Parag Doctor

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

Arvind has gone through a correction of about 15 percent from recent high around Rs 105 levels to recent low around Rs 90 levels. The stock has started a fresh uptrend in the short-term and is headed higher to an immediate target around Rs 97 and can be bought with a stop loss of Rs 93. In the medium-term Arvind Ltd. is likely to go up to recent high around Rs 105 levels. Karnataka Bank has been in a trading range for the last several weeks between Rs 155 levels on the downside and about Rs 180 levels on the upside. The stock has bounced again from the lower end of the trading range and has started a short-term uptrend. It is likely to head higher to an immediate target around Rs 171 and can be bought with a stop loss of Rs 161. In the medium-term Karnataka Bank is likely to test the recent highs around Rs 180 levels.
Sterlite Industries has bounced from strong support around Rs 108-110 levels and has started a new uptrend. Stock can be bought with a stop loss of Rs 112 and an immediate target of Rs 117. In the medium-term Sterlite Industries is likely to go to the recent high around Rs 125 levels. Dena Bank has been struggling around strong resistance around the Rs 120-125 levels. The stock has started a downtrend and is likely to go down to an immediate target around Rs 108 and can be sold with a stop loss of Rs 113. In the medium-term Dena Bank can go down to strong support around Rs 100 levels.