Buy Anant Raj Ind, Karnataka Bank, Pantaloon Retail: Doctor

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

Anant Raj Industries has been in a strong uptrend for the last few months and has broken out recently from the short-term congestion between Rs 75 and Rs 85 levels. The stock still has upside momentum and is headed for an immediate target of Rs 99 and can be bought with a stop loss of Rs 92. Anant Raj Industries could be headed higher to a medium-term target around Rs 110 levels with the base for the stock around Rs 75 levels. Karnataka Bank has been in a strong uptrend for the last several weeks and the stock has broken out of the recent resistance around Rs 130 levels. The stock can be bought with a stop loss of Rs 139 and immediate target of Rs 147. Karnataka Bank has a strong base around Rs 120-125 levels and could be headed higher in the medium-term to a target around Rs 160 levels. MCX – Multi Commodities Stock Exchange has been in a strong uptrend for the last several weeks ever since the announcement of the new stock exchange is on the anvil. The stock is expected to remain buoyant for the next few days and is expected to head higher to immediate target around Rs 1,618 with a stop loss being around Rs 1,528 levels. In the medium-term, MCX could be headed to a target around Rs 1,700 levels with the base for the stock now at Rs 1,450 levels. Pantaloon Retail has been struggling for the last several days after making a lower top formation and having resistance in the zone of Rs 210-220 levels. Pantaloon Retail can be sold with an immediate stop around Rs 203 levels with a target of Rs 193 in the short-term. In the medium-term, Pantaloon Retail could correct even further to between Rs 175 and Rs 180 levels.