Laurus Labs, Ksolves India, Indian Oil, Campus Activewear — Buy, Sell Or Hold? AskProfit

Is Laurus Labs a good buy? Should you continue holding Indian Oil Corp. and Campus Activewear?

Rajesh Agarwal, head of research, AUM Capital; and Rajesh Palviya, senior vice president-technical and derivatives research at Axis Securities answered these investor queries and more on NDTV Profit's Ask Profit show.

Laurus Laboratories Ltd.

Palviya: In the near-term to short-term perspective, if the stock breaks below Rs 375, then there may be further selling.

• It can correct further towards Rs 365 kind of zone.

• If it breaks below Rs 375, then 2% to 3% kind of correction may happen.

• The major support zone now is placed at around Rs 384-385.

• Until the stock doesn't crosses these levels, support pressure is likely to remain in the stock.

Agarwal: Positive for the longer term, good order book.

• Numbers are not that good in the second quarter.

• Market cap is falling and management has reiterated in its investment call that FY24 would be a consolidation year and anything meaningful will happen in FY25.

Indian Oil Corp.

Palviya: Hold, long-term trend has changed.

• In near-term, short term structure, stock has managed to breakout on its weekly as well as on the monthly chart. 

• Stock has shown a good amount of consolidation at the lower band.

• Some buying interest is likely to be there in the stock for a couple of weeks. 

• Revised stop loss is Rs 113.

• If that level doesn't break, then there could be another round of rally in the near to short term towards Rs 130-135, where some profits can be booked.

Campus Activewear Ltd.

Palviya: Trend on the negative side, likely to remain bearish.

• Across all time frame, the stock is continuously forming lower top, lower bottom formation. 

Agarwal: Some more downside on the stock expected.

• Not justified to buy at this point of time. 

• Maybe a better option would be a Bata or Liberty Shoes in the same sector.

• Can be bought if another 20% correction comes from the current market price.

Dixon Technologies (India) Ltd.

Agarwal: Hold, not advised to buy at the current level.

• Longer term is very bright because of the PLI scheme.

• When you look at the valuations, trading at almost three times P/E and that gives some amount of discomfort.

• Some amount of correction is due. After that, one can enter.

Ksolves India Ltd.

Palviya: Stock is moving in a tight range since the last 10-12 weeks. 

• Some accumulation activity or some consolidation activity is happening in the stock prices.

• In near to short term structure, the major support zone is on the high side at around Rs 1,140 level. 

• Once stock manages to cross above Rs 1,140, there could be a resumption of upward momentum.

• On the downside, the major support zone is now placed at around Rs 1,040. 

Disclaimer: The views and opinions expressed by the investment advisers on NDTV Profit are of their own and not of NDTV Profit. NDTV Profit advises users to consult with their own financial or investment adviser before taking any investment decision.