Buy BHEL, may hit Rs 289: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "I have a buy on BHEL, it looks good to me. It is showing good momentum and showing trendiness, so chances are that you would see it first touching say Rs 285 and then for the day the maximum target that I envisage is about Rs 289. In fact Rs 289 would be the level where lots of profit booking can happen."

"The level of Rs 285-289 would be a supply zone and if BHEL can cross that then some foreign brokerage has given a target above Rs 300, those targets would be seen. Put a stop loss below Rs 274.80, since Rs 275- 276 is a strong support area I have kept a stop loss at Rs 274.80," he said.

At 09:17 hrs Bharat Heavy Electricals was quoting at Rs 280.35, up Rs 0.60, or 0.21 percent. It has touched an intraday high of Rs 281 and an intraday low of Rs 280.10.