Buy BHEL: Jitendra Panda

Panda told CNBC-TV18, “Buy Bharat Heavy Electricals Ltd (BHEL). If you observe, the positive action which has been happening for quite some time but today if you see around 8 lakh of open interest adding in August futures on BHEL clearly indicates that BHEL is looking to cross Rs 240 and Rs 245 range. So my target is Rs 243 atleast on technically where we see and we have maintained a stop loss of Rs 232. 8 lakh open interest on a positive day on August series, certainly among one of the leading stocks, which have seen in august huge open interest in addition to around 5-6 lakh of open interest around the current series.”

He further added, “BHEL is rightly poised for some action, the way we had seen in Lanco and today also it continues. So these are one-two stocks where we have seen a lot of positive build up and certainly expecting a lot of fundamental positives, which is going to come ahead.”