Wait and watch for BHEL: CK Narayan

CK Narayan, President Treasury, Sharyans Resources, in a chat with ET Now, speaks about BHEL.

What is the call on BHEL?

BHEL is not still a good bet. If you see the way the stock is behaving today, sellers are actually wading into the counter. It is simply getting pulverised all across the place and this is in the face of seemingly very good results and now the market has received the news alongside with the results rather poorly. That is what actually is showing in the prices and I would suggest that we should probably drop down to around 1800 levels before we see any kind of support or any demand emerge in this stock. So I would clearly stay away and reassess if and when it reaches around 1800.