Buy Adani Ports, HPCL, IDBI Bank, United Phosp:Parag Doctor

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

Adani Ports and Special Economic Zone has been an outperformer in a bearish market and has been making new highs. The stock has again made a fresh 52-week high and is headed higher to a target of around Rs 170 and can be bought with a stop loss of Rs 150. Adani Ports has a strong base around Rs 140 and medium term could see even higher levels of around Rs 180-185 for the stock. Hindustan Petroleum Corporation (HPCL) is part of the oil marketing space which has been accumulating around Rs 300-310 levels for the last several weeks. The stock has now broken past resistance which was around Rs 315-320 levels and is headed higher to a target around Rs 335 and can be bought with a stop loss of Rs 310. In the medium term HPCL could be headed higher towards a target of around Rs 350-360 which was the high seen about two months back. IDBI Bank is part of the PSU banking space which has been an underperformer offlate. But the stocks have now started showing strength and have started a medium term uptrend. IDBI has broken past resistance which was around Rs 90 and is headed higher to test its 200 day average around Rs 95 and can be bought with a stop loss of Rs 85. In the medium term if the Rs 95 level is crossed then IDBI could be headed to around Rs 100. United Phosphorous has been an outperformer in the falling market and has made a new 52 week high. The stock is headed higher to an immediate target around Rs 165 and can be bought with a stop loss of Rs 150. United Phosphorus has a base around Rs 140 which could propel the stock higher in the medium term to targets around Rs 180-185 levels.