Buy Hind Oil Exploration for target of Rs 300: India Infoline

MUMBAI: India Infoline has advised traders to buy Hind Oil Exploration for target of Rs 300.

“Hind Oil Exploration has seen a sharp fall from a high of Rs 321 in January 2010 to a low of Rs 227, which has proved to be a panic bottom for the stock. Since then, the stock has bounced back strongly. The stock has seen the formation of higher bottom and on Thursday it surged sharply on impressive volumes.

With other oscillators also suggesting a positive set up, the above formation can lead to further rally in the coming sessions. We recommend traders to buy the stock between the price levels of Rs 265-275 for a short term target of Rs 300. It is advisable to maintain a stoploss of Rs 258,” the report said.