Sep 07, 2013 01:14 PM IST | Source: CNBC-TV18

Short BHEL around Rs 150: Siddharth Bhamre

Siddharth Bhamre of Angel Broking is of the view that one may sell Bharat Heavy Electricals at around Rs 150. He advised going long in Jaiprakash Associates.

Siddharth Bhamre of Angel Broking told CNBC-TV18, "Bharat Heavy Electricals (BHEL) just a month back had a gap down opening and around Rs 145-150 that gap was created. This stock is trying to fill that gap. Around Rs 150, I think BHEL would be an ideal shorting candidate for me."

"I may not short Jaiprakash Associates, but certainly it is the stock which I would be going long," he added.

On September 6, Bharat Heavy Electricals closed at Rs 141.55, up Rs 4.35, or 3.17 percent.It has touched an intraday high of Rs 142.80 and an intraday low of Rs 135.00.

The share touched its 52-week high Rs 272.45 and 52-week low Rs 100.35 on 05 October, 2012 and 20 August, 2013, respectively. Currently, it is trading 48.05 percent below its 52-week high and 41.06 percent above its 52-week low. Market capitalisation stands at Rs 34,645.78 crore.

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