Shardul Kulkarni of Angel Broking told CNBC-TV18, "Bharat Heavy Electricals (BHEL) has been moving in a sideways band over the last six-eight trading sessions but the weekly chart is still in a good strong lower top lower bottom cycle. My view is that the market may move lower from current levels. So high beta stocks will generally move lower."
"BHEL can be one of those so we recommend selling the October Futures contract in case of the stock. The stoploss would be Rs 149.50 and on the lower side I would expect the stock to test Rs 130," he said. Also Read: Govt to overhaul PSU's performance related pay system: SrcsDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
