BHEL may test Rs 245-250: Siddharth Bhamre

Siddarth Bhamre, Head - Investment Advisory and Derivatives at Angel Broking told CNBC-TV18, "Disclaimer that we are long over Bharat Heavy Electricals. We are seeing that BHEL is taking good resistance around Rs 227-230 zone and then again correcting back to Rs 218. However the interesting part is that despite lot of people talking about expensive valuation for BHEL and having lot of downside target of Rs 170-165, we are seeing stronger hands making good amount of long positions in the stock."

"We are quite positive in BHEL, we may be biased. We are expecting Rs 245-250 to come in BHEL in this series itself. Even if market is probably sideways, this stock can give you good return," he said.