Buy Apollo Tyres, HDIL, Karnataka Bank: Doctor

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

Apollo Tyres has broken past its long term 200 day average which is around the Rs 85-86 levels and has started uptrend. The stock is expected to move to the recent high around the Rs 92-93 levels where there is resistance for the stock. It can be bought with a stop loss of Rs 87. HDIL has been in a recovery path after more than 50 percent drop from the highs seen couple of months back. The stock has made a base around the Rs 43-44 levels where there is a double bottom formation. HDIL is expected to move higher to immediate target around the Rs 53 levels and can be bought with a stop loss of Rs 47. Medium term target for HDIL is around the Rs 60 levels. Karnataka Bank has stabilised around Rs 130-135 levels where there is long term support from the 200 day moving average. The stock has crossed its 50 day moving average and is headed higher to immediate target around Rs 149 levels and can be bought with a stop loss of Rs 142. Oriental Bank of Commerce (OBC) in the banking space has bottomed out around the Rs 230-240 levels after making a double bottom formation there. The stock has started an uptrend and can be bought with a stop loss of Rs 259 and a target of Rs 275. In the medium term, Oriental Bank of Commerce could go higher to around Rs 285-290 levels.