BHEL has strong support around Rs 230-235: Bhamre

Bhamre told CNBC-TV18, “BHEL has a strong support around Rs 230-235 but I believe after some bounce back which can take it to Rs 240-245 there good amount of short positions can be initiated with probably target somewhere around Rs 210 because I believe this support may be breached.”

He further added, “ L&T , I would see the stock as more of sell on rise rather than initiating any positions, probably one can form a call hedge in L&T where you can buy at the money call option and short future. So probably you can buy Rs 1250 call option or Rs 1200 call option of May series and short future for a target of around Rs 110 for L&T for us.”