10282 Investors following Hind Oil Explor. Share this News with them.
0
Like this story, share it with millions of investors on M3
Buy Hindustan Oil Exploration; target of Rs 182: IIFL
IIFL is bullish on Hindustan Oil Exploration and has recommended buy rating on the stock with a target of Rs 182 in its February 24, 2011 research report.
IIFL is bullish on Hindustan Oil Exploration and has recommended buy rating on the stock with a target of Rs 182 in its February 24, 2011 research report.
"Hindustan Oil Exploration earlier had signaled breakout from 'falling wedge' on 16th Feb 2010, however recent decline can be more contributed as pullback for retesting the support lines. On the daily chart stock also had formed a 'hammer' pattern on Monday's trading session which is a trend reversal signal and with crude oil price surging near 100$ per barrel, oil exploration companies are likely to get some attention. Based on amplitude of 'falling wedge' we can expect stock to rally atleast towards Rs 200. Adding to it the daily MACD has generated fresh buy signal which also supports buying argument in the counter. We advise buying stock in the range of Rs 167- 169 with stop loss of Rs 163 for target of Rs 182," says IIFL research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
-190.jpg)
