Rahul Mohindar of viratechindia.com told CNBC-TV18, "In Coal India we are seeing a strong correction and I still rate this more as a corrective move. Let us not forget that the stock has actually run up quite a bit. So Rs 380-400 is likely. So, if you are worried about the short-term, you are going to see that little decline but that is where the major long-term supports would start rolling in. So, there is no sense in really taking fresh positions at these levels and rather wait for somewhere around that Rs 400 pocket to come in.""We believe that in Bharat Heavy Electricals for long term as well as medium term, the charts have still not broken down. Today again it is a reaction of news or results. What we are really looking at is Rs 220 which is still a long way down and which is the long-term support for this stock and nothing really goes wrong from someone who has invested in this may be for a year plus horizon at these levels," he said."I would not immediately panic, in fact the stock has made a smart recovery from the short-term support of Rs 250 today also, so one has to really wait and watch. I wouldn’t really rate today’s downmove as a downbreak," he added.
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