Stock of the day : Buy Indian Oil Corporation Ltd For Target Rs.100 - Religare Broking Ltd
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Indian Oil Corporation Ltd
* Seeing noticeable rebound in the oil marketing pack and IOC is also participating in the move.
* It has rebounded strongly after testing the support zone of long term moving average i.e. 200 EMA.
* The chart pattern combined with uptick in volumes indicates the prevailing trend to continue.
* We thus recommend creating fresh longs in the mentioned range.
BUY Indian Oil Corporation Ltd CMP 92.45; Range 92-93; SL 89; Target 100
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