Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We have seen tremendous momentum in most of the oil marketing companies; in fact the rollovers are positive this time with better rollover cost. We are expecting momentum to continue in most of the oil and gas and gas companies like Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC), Petronet LNG and GAIL India but I have selected IOC for trading bet as the stock has given consolidation breakout in last two expiry. It looks quite strong to see the next round of momentum. So the price pattern as well as the database is suggesting momentum to continue.""We are recommending going long on IOC, expecting it to move towards Rs 420-440 zone. So, one can buy it with a stop loss of Rs 415," he said."The second trade is on LIC Housing Finance. We have selected this from the housing finance space. We have a stop loss of Rs 465 for the target of Rs 500," he added.
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