For investors looking for opportunities in the same space, Shukla suggested Grasim Industries as an alternative. (Image: AI generated for representational purpose only)
Investors who are tracking stocks such as Computer Age Management Services Ltd (CAMS), Ashok Leyland Ltd, Ambuja Cements Ltd and Grasim Industries Ltd can find the entry and exit points suggested by the analyst. Addressing these stock queries on BTTV’s 'Daily Calls' show, Laxmikant Shukla, technical equities research analyst at YES Securities, outlined chart setups and key levels for the stocks.
CAMS
Responding to viewer Ankur Modi on whether CAMS is a good buy at current levels, Shukla noted that while the stock has already rallied by about 7% today, it has not made any reversal kind of pattern on the daily chart. He placed near-term support between Rs 755 and Rs 760.
"Defending these levels we could see upside move in this stock," Shukla told BTTV. He said that near-term resistance stands at Rs 800. Once the stock clears this hurdle, he expects further upside toward the Rs 835 to Rs 840 zone. For fresh positions, he advised keeping a strict stop-loss at Rs 760 and upside move towards the Rs 840 to Rs 850 levels.
Ashok Leyland
Taking an investment query from viewer Leela regarding Ashok Leyland Ltd, the technical analyst identified the Rs 155 zone as a favorable entry point. Shukla expects a short-term pullback toward the Rs 170 mark. “if any to surpass this level of Rs 170 then we will see extensions of this pullback move toward the levels of Rs 179 to Rs 181,” he said.
Ambuja Cements & Grasim
Another viewer, Aayush, when asked about Ambuja Cements Ltd, Shukla highlighted technical weakness on the charts. He noted that the cement major failed to cross its 50 SMA levels, facing resistance on the Rs 470 zone. "Stock has been making lower tops and lower bottom," he said.
Shukla warned that Ambuja is now retesting its previous swing low of Rs 425. A decisive breakdown below this mark could drag the stock further down toward the Rs 400 zone. “So the view will be slightly negative until we see any decisive move of the levels of the Rs 460 to Rs 465 zone in Ambuja Cement,” he noted.
For investors looking for opportunities in the same space, Shukla suggested Grasim Industries as an alternative. Highlighting its recent bullish trajectory, he pointed out that technical momentum indicators like the RSI and MSED are both looking positive in this stock. “We are expecting upside move toward the levels of Rs 3,100 in Grasim as long as it holds up to the levels of Rs 2,790 on the downside,” Shukla added.
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Published on: May 5, 2026 5:23 PM IST
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