Buy Apollo Tyre, Hindustan Zinc, Orchid Chem: Parag Doctor

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

Buy Apollo Tyre with a stop loss of Rs 92.50 and target of Rs 98. This stock has broken past its 52 week high and is also at a new historic high. The stock has shown very strong momentum in the last few trading sessions and the entire tyre sector also has been doing well. Buy Hindustan Zinc with a stop loss of Rs 129 and target of Rs 136. This stock has broken past the resistance which was there around the Rs 129-130 levels and is now heading higher to a target of around Rs 137 mark which has been the resistance in the recent times. The stock has shown very good volumes and open interest and also is supported by a possible stake sale by the government. Buy Orchid Chemicals with a stop loss of Rs 106 and target of Rs 114. Orchid Chemicals has started a short term uptrend and is showing good volume and open interest buildup. The stock has had very strong support in the Rs 105-110 zone in the last few months. The stock is headed higher to a recent target of around the Rs 114 levels and can be bought with a stop loss of Rs 106. Sell Canara Bank with a stop loss of Rs 351 and target of Rs 336. Canara Bank has been struggling for the last few trading sessions and has broken down below the support which was there around the Rs 345 levels. The stock is part of the PSU banking sector which has been underperforming the broad markets in the recent few weeks. Disclosure: I don't have holdings in any stocks discussed but may have recommended them to clients.