Book profits in BHEL: Rajat Bose
313 to 321 would be the levels where lot of sellers who have bought at lower levels would come in, book their profits.
By 
| Updated:
| Updated: Rajat Bose, rajatkbose.com in a chat with ET Now shares his views on BHEL
ET Now: What is the call on BHEL?
Rajat Bose: BHEL has been a laggard in the last 2 months rally. Now, towards the end, such laggards will try to play a catch up game and that is what is happening. Very close by is the 200-day moving average for BHEL which is at 321. So maybe it is a move towards the 200-day exponential moving average, taken out and consolidated by other stronger players.
We are in the last phase of this upswing where market is moving up in Nifty terms by about 100 points or close to that everyday. That is not sustainable and BHEL is showing that performance. But, profit booking will come in soon. 313 to 321 would be the levels where lot of sellers who have bought at lower levels would come in, book their profits.
ET Now: What is the call on BHEL?
Rajat Bose: BHEL has been a laggard in the last 2 months rally. Now, towards the end, such laggards will try to play a catch up game and that is what is happening. Very close by is the 200-day moving average for BHEL which is at 321. So maybe it is a move towards the 200-day exponential moving average, taken out and consolidated by other stronger players.
We are in the last phase of this upswing where market is moving up in Nifty terms by about 100 points or close to that everyday. That is not sustainable and BHEL is showing that performance. But, profit booking will come in soon. 313 to 321 would be the levels where lot of sellers who have bought at lower levels would come in, book their profits.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
