Buy IOC between Rs 348.35 to Rs 340. Stoploss at Rs 326 :: HDFC Securities

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Observation  The stock is showing positive bias for the short term.  Bullish breakout has been witnessed with strong positive candle which indicates that bulls are resuming their momentum and price has validated a fresh buy trigger.  Multiple bottoms have been formed around 220 levels over the past seven months; this is acting as vital support for the stock.  Price is rebounding from 200 day EMA and it is trading above key short & medium term moving averages.  The progressing rise could head towards 61.8% retracement level (375) or towards earlier top of 411 levels.  Traders could buy the stock between CMP to 340 with the stoploss of 326 on closing basis for the targets of 375 - 410.

http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3011035