IIFL on Indian Oil Corporation, Indian Hotels, Petronet LNG

IIFL on Petronet LNG - Target Rs 89

 

IIFL is bullish on Petronet LNG and has recommended buy rating on the stock with a target of Rs 89, in its research report.

"On the daily chart, Petronet LNG gave an upside breakout in Tuesday's trading session. It suggests that the sideways range is about to end and may reverse into an uptrend. On Tuesday, the stock rallied by over 3% confirming the bullish set up. We continue to remain positive on the stock from technical perspective as the stock has managed to hold on to the support of its 100-day DMA. The other supportive technical oscillators are positive and the up move may extend to the levels of Rs 89. It is advisable to maintain a stop loss of Rs 81 on all long positions."

IIFL on Indian Hotels - Target Rs 114

 

IIFL is bullish on Indian Hotels and has recommended buy rating on the stock with a target of Rs 114, in its research report.

"On the daily chart, Indian Hotels has given an upside breakout, considered to be an important bullish signal. Last few weeks for the stock has been characterized by a sustain downtrend. However, the stock has managed to find support around the levels of Rs101. On Friday, it attempted a smart rally, closing well above day's open. The stock price has corrected from a peak of Rs113 during April 2010 to the levels of Rs101. With other oscillators suggesting a positive formation, we expect the upside to continue. We recommend traders to buy the stock at current levels and on decline to levels of Rs106 for a short term target of Rs114. It is advisable to maintain a stop loss of Rs 103."

IInfoline on IOC - Target Rs 330

 

IIFL is bullish on Indian Oil Corporation and ahs recommended buy rating on the stock with a target of Rs 330, in its research report.

"IOC has seen impressive volume expansion in last few trading sessions and appears to have taken support between Rs300-301 range. It could bounce till somewhere between Rs 325-330 levels in the near term.  Our argument is further validated after the stock recovered from its 200-day DMA in Friday's session with strong volumes. Any move above Rs310 could take the stock towards Rs325 and higher in the short-term. Traders are advised to maintain a stop loss of Rs300 and go long. Book partial profit around Rs 325 and exit around the levels of Rs 330," says IIFL research report.