Buy Allahabad Bank, Pantaloon Ret, Tata Global:Parag Doctor

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

Allahabad Bank has been recovering along with the other public sector undertaking (PSU) banking stocks as the market finds value in the entire sector. The stock has formed a base around Rs 125 to Rs 130 levels and now has started a momentum on the upside. Allahabad Bank is headed for an immediate target of Rs 147 and can be bought with a stop loss of Rs 139. In the medium-term the stock is headed around Rs 153 to Rs 155 zone where the resistance exists from the 200 day moving average while the base for the stock is around Rs 125 to Rs 130. Aurobindo Pharma has been in a strong uptrend in the pharmaceutical sector for the last few months. The stock has been making consistent new highs and is headed in the medium-term to a possible target between Rs 210 and 220. In the short-term Aurobindo Pharma can be bought with an immediate target of Rs 192 and a stop loss at Rs 183. The stock has a base between Rs 155-165 levels in the medium-term. Pantaloon Retail has been showing strong momentum in the last week or so. The stock has formed a base in the medium-term around Rs 175 to Rs 180 levels. Pantaloon Retail has broken out of the immediate resistance around Rs 210 zone and is headed in the immediate term to a target of Rs 218 and can be bought with a stop loss of Rs 199. In the medium-term Pantaloon Retail looks like challenging the old highs in the zone between Rs 230 and Rs 240. Tata Global Beverage has had a correction in the recent few days between the peak of Rs 180 and to the low of around Rs 150 levels. The stock has again started moving up and is showing and uptrend which is likely to go to an immediate target around Rs 169 with a stop loss at Rs 161. In the medium-term Tata Global looks likely to go back to its 52 week high around Rs 180 levels.