Go long on BHEL: Mitesh Thacker

In a chat with ET NOW, Mitesh Thacker, Technical Analyst, miteshthacker.com, talks about BHEL.

What is your call on BHEL?

I would go with BHEL. One is that the stock did very well, went up to 330 then went through some kind of correction, is bouncing back. Not only the stock is high beta compared to Tata Power the overall structure is much positive for BHEL. So with today’s low as the stop loss which is about 292 this is probably heading towards targets of 330 which is the 200 day level. So this is a stock where longs can be considered, this is much stronger stock than Tata Power and also high beta stock.