Parag Doctor, Head-Trading Strategies of Keynote Capital's told CNBC-TV18, "Bharat Heavy Electricals (BHEL) has lost about 50 percent in a matter of a month or so. It is again a severe bear market in the stock. There is lack of interest at these lower levels. The delivery selling is happening."
He further added, "We expect maybe the physiological Rs 100 mark should provide support and maybe Rs 130-140 levels is where the upside is in the immediate term maybe in the next month or so where there is a gap in the charts and that level would be a point where one can reduce positions in this stock. It is best to exit on rallies."
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