Buy IOC, Engineers India, Canara Bank, Coal India: Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We are positive on selective oil marketing companies. Indian Oil Corporation (IOC) may continue to perform. It has made a positive triangle formation and may head towards Rs 340, so one can buy with a stop loss of Rs 320.""Second trade is buy on Engineers India (EIL), the stock is heading near to its 52-week high. It has given a break out, we have seen the huge accumulation of the long positions, so it can really rally towards Rs 295. One can buy on a small decline with a stop loss of Rs 268," he said."In banking space, we are positive on ICICI Bank and Yes Bank while in PSU banking space, Canara Bank can be the favourite stock. It is continuously making higher tops, higher bottom formation. We are looking for target of Rs 340, so one can buy with a stop loss of Rs 316." "Coal India recently made bottom and we are looking at upmove towards Rs 327-328 kind of zone, so one can buy 320 Call and this call can move to Rs 7 which may double," he added. "While on the negative side, selective tyre companies may continue to decline even after the market moment. So, in Apollo Tyres we have a negative view. We are recommending to buy 210 Put and this put can move towards Rs 6-7."