Buy HOEC on dip: Anu Jain

One can buy HOEC on dips, says Anu Jain, Vice President - IIFL Private Wealth Management at India Infoline.

Jain told CNBC-TV18, "I have been following HOEC from Rs 170; it was the first call at Rs 170. I didn’t expected to move the way it has but the chart does not cease to surprise and give you positive upmoves. So even on a day like yesterday where it corrected towards the end you saw a lot of buying coming to the stock and the candlesticks are positive towards the end, which indicated that at lower levels buyers existing for this stock. Probably the long-term targets would be much higher showing right now momentum which could probably carry it to early Rs 400, so above Rs 405 odd looks possible. So on a dip possibly it can dip to about Rs 357-358 levels that won’t be good level to get into the stock with a stoploss closer to Rs 357-356.”