Go long in Asian Paints, IOC may test Rs 450: Agarwal

Aditya Agarwal of Way2Wealth Securities told CNBC-TV18, "Asian Paints have added quite a good amount of long position in today's session. The stock gave a breakout intraday above Rs 865 which was a resistance zone. The stock is trading below that but overall structure for that stock is still bullish and we are expecting that it may test Rs 890. So one can go long at current level keeping a stop loss at Rs 850 and on the higher side target will be Rs 890.""All the oil marketing companies have seen a good rally. IOC also saw some decent rally in yesterday’s sessions and today this stock is little bit under profit booking pressure. The overall structure is still quite bullish. If the stock comes in the range of Rs 428-430 then that will be a good time where one can go long. On the higher side, we are expecting target of Rs 450 and stop loss will be Rs 416," he said.