Buy BHEL: Sukhani

Sudarshan Sukhani, s2analytics.com is of the view that trader can buy BHEL.

Sukhani told CNBC-TV18, “I would be a buyer in Bharat Heavy Electricals Limited (BHEL). It is not an easy call to make. This stock has been in a trading range. It jumps and comes back to Rs 210-215-220 range. That is a strong support. So far as that support is holding, today it is bouncing from that support, so it is a high-risk trade, but I would take a long position, because I know my stock. It is just Rs 218 I would say today’s low whatever it is. Rs 1-2 here and there. For a trader it is a buying opportunity.”
At 14:33 hrs Bharat Heavy Electricals was quoting at Rs 228.75, up Rs 6.30, or 2.83%.It has touched an intraday high of Rs 230.00 and an intraday low of Rs 221.05.
The share touched its 52-week high Rs 328.35 and 52-week low Rs 195.05 on 22 February, 2012 and 12 September, 2012, respectively.Currently, it is trading 30.33% below its 52-week high and 17.28% above its 52-week low.