Sukhani view on JP Associates, BHEL, L&T

Sudarshan Sukhani, s2analytics.com view on Jaiprakash Associates, BHEL and Larsen and Toubro.

Sukhani told CNBC-TV18, “JP Associates is breaking below Rs 65-66 and that’s confirming a significant bearish pattern that gives a target of Rs 45. I don’t know if JP is reaching Rs 45 but I wouldn’t be long in it. I would certainly try to be on the short side."
He further added, "BHEL is a very nice company and I wish it stopped falling but it’s not doing that. I don’t have a downside target but I don’t have a short selling idea on the stock. BHEL is now trading to 2008 lows that’s the time when the Nifty was 2200. So it’s very difficult to give a call on further selling in BHEL, it can go down, as we see but I would just stay away. For short selling L&T has visible downside targets and that’s easier to sell.