Buy BHEL at around Rs 204-205: Murlidharan

Manoj Murlidharan Vayalar, IIFL is of the view that one can buy Bharat Heavy Electricals (BHEL) at around Rs 204-205. Keep stop loss of Rs 198.

Murlidharan told CNBC-TV18, “The thing here is there are primarily three sectors which really did not see much of a long built-up i.e. needless to say the banks. Second would be metals and there was some in the infra pocket as well. So I feel this would be the three sectors that are good enough, we can go and buy now." He futher added. "In Hindalco still 3-5% upmove possible, but stocks specifically based on the short covering which is yet to come on the stock Futures, I guess I have filtered down couple of stocks. One would be a BHEL, I feel Rs 204-205 is still a good buy. Keep a stop loss of Rs 198, Rs 216 definitely can come in and this time for a change I feel a stock like IVRCL Infra that is somewhere close to Rs 40 odd, the stop loss should be Rs 38 and possibly a Rs 46 can come in and if it is metals, yes Hindalco is top pick in that as well.”