Go ahead and buy BHEL for long term: Ashwani Gujral
"...when you have this kind of bad news cover your shorts and if you are a longer term investor go ahead and buy BHEL."
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| Updated: Ashwani Gujral, Fund Manager, Ashwanigujral.com, talks to ET Now on various stocks.
What is your call on BHEL, how much further do the charts indicate?
It is not very difficult because bottoms are made on bad news and you could see what happened with Maruti. A similar pattern is visible on BHEL and out here your risk is probably 20 bucks which is the recent low of about 225.
It is possible that the stock is bottoming out and this is the worst quarter because chartically what we can see is that a higher low is being made. On another day BHEL would have gone through 225 but I would think that when you have this kind of bad news cover your shorts and if you are a longer term investor go ahead and buy BHEL.
What is your call on BHEL, how much further do the charts indicate?
It is not very difficult because bottoms are made on bad news and you could see what happened with Maruti. A similar pattern is visible on BHEL and out here your risk is probably 20 bucks which is the recent low of about 225.
It is possible that the stock is bottoming out and this is the worst quarter because chartically what we can see is that a higher low is being made. On another day BHEL would have gone through 225 but I would think that when you have this kind of bad news cover your shorts and if you are a longer term investor go ahead and buy BHEL.
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