Short BHEL, says Atul Badkar

Short BHEL, says Atul Badkar, VP - Institutional Equities - Derivatives Desk, Edelweiss Securities.

Badkar told CNBC-TV18, "If you have observed in the last few trading sessions the entire capital goods space has very clearly broken down including BHEL and Larsen and Toubro (L&T). BHEL particularly, the price action that we have seen in the stock is very clearly showing you that this stock can go down another 5-8 percent very quickly. It is in that momentum of falling lower."
He further added, "I think if you short the stock even from current levels around Rs 195 is what is gettable. You have to have of course a very strong stop loss, so 2 percent higher and you will need to cut your shorts. But BHEL and L&T both look weak in the capital goods space."