Buy BHEL, says Sudarshan Sukhani

One can buy Bharat Heavy Electricals (BHEL), says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "First sign of life has come in BHEL. On a shorter term timeframe, on intraday chart we are seeing a bullish head and shoulder and it has broken out. Therefore, it is quite possible that this one has some momentum on the upside."

He further added, "As we anticipate the market opens lower; traders get to buy it at a lower price, which is better; the risk reward becomes that much more favourable. So, I would say go for BHEL, it is a short-term trade. We are only discussing short-term trades, not a sudden positional buy."

The share touched its 52-week high Rs 274.45 and 52-week low Rs 174.50 on 04 April, 2012 and 28 March, 2013, respectively. Currently, it is trading 32.59% below its 52-week high and 6.02% above its 52-week low. Market capitalisation stands at Rs 45,280.60 crore.