BHEL can touch Rs 242-247: Manghnani

Manghnani told CNBC-TV18, "BHEL has sort of tried to make a base around the Rs 200-210 range and we spoke about it 2-3 weeks back where I said the first target would be about Rs 227. It has crossed that, so it still has a potential to probably rally upto Rs 242-247."

He further added, "Now you will work with a trailing stop, for me I am looking more like a 20 day average, so if somebody is tracking the chart would need to track that on a regular basis, but right now around Rs 220-221 is where the 20 DMA is. So I will keep that as a stop and let the stock continue its rally, maybe upto Rs 242-247."