Buy CESC, Godej Ind; sell Hindalco, JSPL: Doctor

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

Buy CESC. It is in an uptrend having found support on the 50 day moving average (DMA) and a rising trendline. The stock has a strong base around Rs 310-320 levels. The stock is headed higher, the immediate target of Rs 327 and a medium-term of Rs 360. Godrej Industries has made a new 52-week high after breaking out of the immediate resistance around Rs 300 levels. The stock has found a strong base around Rs 280 levels. Godrej Industries is headed higher to a target around Rs 313 levels and can be bought with a stop loss of Rs 298. Godrej Industries has a medium-term target around Rs 330 levels. Hindalco has found very strong resistance around Rs 125 levels on the 200 day moving average (DMA) which is also the six months high. The stock has struggled to cross these levels as the sector is facing a lot of pressure on the upside.Hindalco is headed lower to immediate target around Rs 112 and further target is around Rs 110 levels where there is gap support. Hindcalo can be sold with a stop loss of Rs 118 and the immediate target of Rs 112. Jindal Steel & Power is struggled to cross the 100-day moving average and has failed because of the selling pressure due to strong resistance around Rs 430 levels. The stock is headed lower to immediate target around Rs 398 and can be sold with a stop loss of Rs 418. The medium-term target for JSPL is around Rs 380 levels.