INDIAN OIL CORPORATION LTD:HOLD

Sir, What is your view on IOC? I am Holding 50 stocks @ Rs. 302. Can I buy more since its beaten down heavily. Thanks in advance ask by varshini 
1. Indian Oil Corporation Ltd (IOC) is a 10-rupee face value oil marketing and distribution company. 
2. Year high and year low of Indian Oil Corporation Ltd are 375 and 216.45, which are normal. 
3. Promoters holding 78.92 % FII holding 1.95 % and DII holds 4.48 % all is normal. 
4. IOC traded below his 200 DMA so technically I think more downside is remain in this stock. 
5. The IOC is an index-based stock so when the index has performed then you may get your price again with some profits. So do not worry but I am not suggesting averaging it out because if you have fresh money then more than 2000 stocks available in the market so use your fresh money to diversify your portfolio like a shopkeeper. 
6. I have no any stock of IOC.