Hold Alok Industries, says Hemen Kapadia

Hemen Kapadia, VP at KR Choksey Securities told CNBC-TV18, "One needs to hold on to Alok Industries. It hasn’t done anything much. It has been a market underperformer for some time. Currently we have been moving sideways, I don’t think there is too much of a downside. For the safety sake in deeper stoploss at Rs 10 but the stock needs to close above Rs 14 on the weekly chart to appreciate further."

"It doesn’t look bad and doesn’t look exciting either, it is moving sideways, so there isn’t any directional bias but if it closes above Rs 14 then one can expect some sort of an upside to come in. So as of now, I would suggest a hold with a stoploss of Rs 10," he added.

"Aban Offshore is in an intermediate downtrend as of now. There is support at Rs 540 and then we have support at Rs 460. I think this looks like the last leg of its fall currently. So one should be willing to see some pain but once again, I would suggest a hold from a slightly long-term point of view," he said.