BHEL may test Rs 128-130: Aditya Agarwal

Aditya Agarwal of Way2Wealth told CNBC-TV18, "Bharat Heavy Electricals (BHEL) saw a rally of more than 50 percent in September series. So we are expecting some kind of profit booking in this counter. Overall this stock is not weak, but a profit booking cannot be ruled out. On lower side, we think BHEL may test Rs 130-128 levels, but if it comes in that range Rs 128-130 that will be a good time where one can go long."

"On higher side one can expect a target of Rs 140-145. But this is not a time to buy, we can see some more correction of 4-5 percent. On those dips one can go long in BHEL," he said. At 13:36 hrs Bharat Heavy Electricals was quoting at Rs 136.85, down Rs 7.10, or 4.93 percent. It has touched an intraday high of Rs 141.70 and an intraday low of Rs 135.50. The share touched its 52-week high Rs 272.45 and 52-week low Rs 100.35 on 05 October, 2012 and 20 August, 2013, respectively. Currently, it is trading 49.77 percent below its 52-week high and 36.37 percent above its 52-week low. Market capitalisation stands at Rs 33,495.41 crore.