Technical calls for today's trade: Buy, JSPL, IOC and Kansai Nerolac

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

BUY JINDAL STEEL 

CMP: Rs 114

Stop loss: 108

Target: Rs 125

JSPL is correcting from Rs 135 and has retraced to a low of Rs 105. The long term trend continues to be positive. RSI on daily chart shows signs of reversal, we recommend a BUY for a target of Rs 125.

BUY INDIAN OIL CORPORATION 

CMP: Rs 441.65

Stop loss: Rs 435

Target: Rs 460

IOC, already under a strong uptrend, has got in new round of momentum. RSI on daily chart, currently at Rs 60 after retracing from overbought zone, is showing signs of new round of momentum. A decisive cross of Rs 450 takes it to a new price range towards a projected target of Rs 460 and higher. We recommend a BUY.

BUY KANSAI NEROLAC 

CMP: Rs 433

Stop loss: Rs 390

Target: Rs 480

Kansai Nerolac has given a breakout on a weekly chart with higher volume and rising indicators. We recommend a buy now and in decline near support of Rs 400 with a stop loss of Rs 390 for a positional target of Rs 480.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.