Buy BHEL; could hit above 290-291 levels: CK Narayan

In a chat with ET Now, CK Narayan, Growth Avenues Asset Advisors shares his views on BHEL.

ET Now: What is the call on BHEL?

CK Narayan: BHEL saw about 8-9 days of consecutive drop and it has been in a kind of a falling channel on the charts and then it has set to about 260-261. It has reached lower levels of the channel. So it is trading down into support.

Today there seems to be some interest in buying the stock. So at the current level for about 267-268 I would venture forth with a buy on BHEL. Keep a stop at about 260. I expect that it could rise all the way till about 290-291. So that leaves me with a fairly good risk to reward ratio for this particular trade.