Buy IOC for target of Rs 330:IIFL

MUMBAI: IIFL has advised traders to buy IOC for target of Rs 330.

“IOC has seen impressive volume expansion in last few trading sessions and appears to have taken support between Rs 300-301 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 Rs 310 could take the stock towards Rs 325 and higher in the short-term. Traders are advised to maintain a stoploss of Rs 300 and go long. Book partial profit around Rs 325 and exit around the levels of Rs 330,” the report said.