Sell BHEL, target Rs 160: Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "If look at the movement today in BHEL, it is very much in sync with the expectation. The longer term trends remains down. The scrip has already broken below Rs 190 which was a medium-term important level. Now we expect Rs 160 as the first target for the stock and over the medium-term we might even see the scrip going below that. The stop loss for this sell trade can be kept at Rs 196."At 13:11 hrs Bharat Heavy Electricals was quoting at Rs 179.85, down Rs 4.55, or 2.47 percent. It has touched a 52-week low of Rs 178.35.