Top stock picks from Chandan Taparia of MOSL: Buy IOC, JSW Steel

Here are a few trading ideas by Chandan Taparia, Derivatives and Technical Analyst & PFA at MOSL:
 
Stocks:
 
INDIAN OIL CORP
Reco: BUY

Last Close: Rs 387
Stop Loss: Rs 376
Target: Rs 410
 
It has been holding the gains above 376-379 zone from last four trading session. Recently it formed a triangle pattern on daily chart and breakout of the pattern is intact with long accumulation. Thus, recommending to buy with the trading stop loss of 376 for a potential upside target of 410.
 
JSW STEEL
Reco: BUY
Last Close: Rs 204
Stop Loss: Rs 198

Target: Rs 215
 
It has given a consolidation breakout and registered a fresh 52 weeks highs. Positive sector outlook with long addition supports the next up move.
 
ARVIND
Reco: BUY
Last Close: Rs 406
Stop Loss: Rs 398
Target: Rs 422
 
It has recently given the positive momentum after the consolidation of last eight trading sessions and holding the gains. Major trend of the stock is positive and recent price volume breakout is adding more strength to its move. Thus, recommending to buy on a decline with the trading stop loss of 398 for a potential upside target of 422.

 
Disclaimer: Motilal Oswal Securities ( MOSL ) is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. MOSL is in the process of getting registered under SEBI - Research Analyst Regulations. MOSL, the spokesperson or his relatives, do not have financial interest in the securities mentioned above. The spokesperson has not served as a director, employee or officer at the subject company in the last 12 months. MOSL or its associate might be involved in market making for the subject company or have potential conflict of interest.

 
Chandan Taparia is a Deivatives and Technical Analyst at Motilal Oswal Securities.