Above Rs 361, go long in BGR Energy: Shardul Kulkarni

Above Rs 361, go long in BGR Energy Systems, says Shardul Kulkarni, Sr Technical Analyst, Angel Broking.

Kulkarni told CNBC-TV18, "BGR Energy Systems does give you tremendous opportunities to trade into. However, I would say that Rs 360-361 mark is a decent resistance for the stock. So long as it does not trade above Rs 361 trader should not take heavy positions but once it goes above Rs 361 I think you should be going long in case of BGR. I would expect the targets to be well over Rs 405-410 in case of BGR. So this is a longer term call, not a short term time frame but I would be quite bullish on the stock."
He further added, "In case of IVRCL the move is already there, we have already seen the stock move from Rs 50 to around Rs 72-73 right now. So going long at current levels is not justified. So I would wait for declines in case of IVRCL but in case of BGR I think that the opportunity does exist. Just watch out for the levels of Rs 361-362." Disclosure: It is possible that we have positions in the above stocks and we have recommended that to our clients.