BHEL might once again come down to test 256: Rajat Bose

Rajat Bose, rajatkbose.com (Technical Check), in a chat with ET Now, gives his views on BHEL.

ET Now: What is the call on BHEL?

Rajat Bose: Generally what you notice is that BHEL is a weak stock. In fact when the market is showing lot of strength, BHEL moves but otherwise it cannot sustain at higher levels.

So, unless it sustains above 263-265 zone, BHEL might once again come down to test 256 to about 253 support area and if it were to fall below 249 again, then there would be lot of problems.

However, as of now, let’s hope that BHEL sustains above 260 and tries to cross 265. But overall, one would do well to actually go for stocks like Larsen & Toubro rather than BHEL.