Short BHEL; target Rs 91-92: Manoj Murlidharan Vayalar

Manoj Murlidharan Vayalar of IIFL told CNBC-TV18, "I don't think this is a time one should even be thinking of accumulating Bharat Heavy Electricals (BHEL) or is not even a buy on dips candidate."

He further added, "The stock has almost come to Rs 109 levels. I feel, 7 to 8 percent decline or maybe somewhere close to Rs 98 to 97 might be a level where there would be buying taking place. If one can short with a stop loss of Rs 115 that would be a better trade for a target of at least Rs 91 to Rs 92." The share touched its 52-week high Rs 272.45 and 52-week low Rs 112.10 on 05 October, 2012 and 06 August, 2013, respectively. Currently, it is trading 61.11 percent below its 52-week high and 5.49 percent above its 52-week low. Market capitalisation stands at Rs 25,932.32 crore.