Buy BHEL above Rs 201; target Rs 213: IIFL
IIFL is bullish on Bharat Heavy Electricals (BHEL) and has recommended to buy the stock above Rs 201 with a stop loss of Rs 195 for the target price of Rs 213, in its March 07, 2013 research report.
March 07, 2013 / 13:56 IST
IIFL is bullish on Bharat Heavy Electricals (BHEL) and has recommended to buy the stock above Rs 201 with a stop loss of Rs 195 for the target price of Rs 213, in its March 07, 2013 research report.
"BHEL on the daily line chart has signaled breakout from 'falling wedge' above Rs200 in yesterday's session. The stock also attempted to break above its 20‐DMA which earlier acted as steady supply zone, but closed marginally below it. Any pullback to retest the breakout point (Rs200) should be viewed as a buying opportunity with better risk reward ratio. The 50-DMA in the counter is placed at Rs219 which becomes near term price resistance. The daily RSI is indicating positive crossover, thus reinforcing positive trend in the counter. (Duration 5 days)," says IIFL research report.Institutional holding more than 40% in Indian cos 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.To read the full report click on the attachment 
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