Rahul Mohindar negative on BHEL

Rahul Mohindar of viratechindia.com told CNBC-TV18, "In the medium to long-term BHEL is still negative. I don’t see a point that this stock is going to breakout as such. Given the kind of upmove that you have seen, it is going to be important that the stock really gets above Rs 260-270. So before one should come into any major conclusions medium to long-term so as of know I am still negative on the stock. I am not treating today’s quick move as a breakout. We need to see where this goes further and can it sustain Rs 260-265."

On Tuesday, Bharat Heavy Electricals closed at Rs 241, up Rs 6.75, or 2.88 percent. It has touched an intraday high of Rs 246.55 and an intraday low of Rs 230.10.