Stay bearish on BHEL: CK Narayan, Growth Avenues Asset Advisors

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 and Maruti?

CK Narayan: Situation in both of these stocks are sort of diametrically opposite. BHEL is making something like a 3-4-year low. Maruti is trading at a high. So I do not think you can really measure them on the same balance, even though they are news driven. BHEL may drift down further because it keeps breaking one support after another and seems to be largely friendless for the moment in the market. So, the last major support zone would be around 195 and the stock seems to be making for that. So, we should remain bearish on BHEL and use any rallies to exit or to short.