BHEL may slip to Rs 1820-1780: Chaturmuhta

BHEL may slip to Rs 1820-1780, says Ashish Chaturmuhta, VP Derivatives and Technical, IIFL Private Wealth.

Chaturmuhta told CNBC-TV18, "In capital goods if you look at BHEL, it has seen significant shorts around Rs 2,050 level and this counter has got very major support around Rs 1,900 levels. So breaking below Rs 1,900 this counter can move towards Rs 1,820-1,780 levels on downside. So this is one counter where aggressive shorts have been created and if it fails to cross Rs 1,940 on upside then there can be huge selling pressure in BHEL.