BHEL on downtrend: Deepak Mohoni

Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now, gives his call on capital good stocks


What is the call on capital goods stocks?

There have been a few rallies in ABB and Siemens. They are both still above their 200-day moving averages whereas you get a BHEL that is down 25-30% since November and it has just come off the lows which it had reached recently Rs 1650. So there is BHEL clearly in a downtrend. Even Larsen though of its lows of February and May, it is not really in a very strong uptrend. So all in all not too strong but if there is some demand, it is probably in ABB and Siemens.