83215 Investors following BHEL. Share this News with them.
0
Like this story, share it with millions of investors on M3
Buy BHEL; target Rs 242: IIFL
IIFL is bullish on Bharat Heavy Electricals (BHEL) and has recommended buy rating on the stock with a target price of Rs 242 in its December 21, 2011 research report.
IIFL is bullish on Bharat Heavy Electricals (BHEL) and has recommended buy rating on the stock with a target price of Rs 242 in its December 21, 2011 research report.
"Bharat Heavy Electricals (BHEL) on the daily chart is trading near the support of falling channel and the daily RSI is trading below extreme oversold terrain of 30 mark. On the intraday chart stock has given breakout from ending diagonal projecting immediate upside towards Rs 245. In case stock manages to surpass Rs 245, major trend reversal would be confirmed. Already stock has seen significant downside and is currently trading near the support lows of Nov 2008. We recommend buying BHEL above Rs 230 with stoploss of Rs 224 for target of Rs 242. (Duration 5 days)," says IIFL research report.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
