Buy HPCL, Delta Corp, Polaris: Parag Doctor

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

Buy HPCL with a stop loss of Rs 304 and target of Rs 318. Hindustan Petroleum has made a very strong base between Rs 300-310 over the last few months. The stock is well supported at the 200 DMA around Rs 300. The stock is now around that base level and expected to move up to immediate targets of Rs 318 and can be bought with a stop loss of Rs 304. Buy Delta Corp with a stop loss of Rs 61.75 and target of Rs 67. Delta Corp has a strong base between the Rs 55-60 levels which has developed over the last several months. The stock has shown strength by crossing the 50 day average and 100 day average and broken out of the resistance at Rs 62. The stock has developed good open interest buildup and delivery based volumes. Delta Corp is headed for a target of Rs 67 which is a resistance from the Rs 200 day average and can be bought with a stop loss of Rs 61.75 Buy Polaris with a stop loss of Rs 119 and target of Rs 127. Polaris has had a strong up move making past the resistance at the Rs 120 levels. The stock has had good open interest and delivery based volumes. Polaris is headed to an immediate target around Rs 127 and can be bought with a stop loss of Rs 119. It can head to a medium term target around Rs 133 level which is resistance from the 200 DMA. Sell IVRCL Infra with a stop loss of Rs 47 and target of Rs 42. IVRCL has developed strong resistance in the last 4-5 trading days around the 200 DMA which is at the Rs 47 levels. The stock has been underperforming in the recent rally. IVRCL is likely to head lower to immediate target around Rs 42 and target of Rs 37 and can be sold with a stop loss of Rs 47. Disclosure: I don't have holdings in any stocks discussed but may have recommended them to clients.