Trading recommendations by Nilesh Jain of Anand Rathi: Buy HPCL, UPL

The stock of HPCL has witnessed a built-up of long positions with the addition of 10 per cent open interest

BUY HINDPETRO | TARGET: Rs 255 | STOP LOSS: Rs 222

The stock is on the verge of a breakout an 'inverse head and shoulder' pattern on the daily chart. The neckline is placed at 236 levels; above that we can expect a fresh leg on the upside towards 255 levels. The momentum indicators and oscillators have also provided a buy crossover on the daily chart. The stock also witnessed a built-up of long positions with the addition of 10 per cent open interest.

BUY UPL | TARGET: Rs 550 | STOP LOSS: Rs 492

The stock is forming a 'saucer' formation on