Essar Oil can touch Rs 348: N Pillai

Neppolian Pillai, Head Institutional Equity, Modern Shares & Stock Brokers is of the view that Essar Oil has can touch Rs 348.

Pillai told CNBC-TV18, "Essar Oil could continue to go up beyond Rs 284 that’s resistance zone. But beyond that it could move roughly about another Rs 60 up to Rs 348."

He further added, "IFCI is a pure pullback rally, it would peter out somewhere around Rs 67 levels, I don’t think I would be touching that stock maybe on the downside. But Essar Oil is for sure one can look at beyond Rs 285 for a target of about Rs 348."     

Disclosure: It is safe to assume that analyst and his clients may have an interest in the above stock/sector.