BHEL may test Rs 225: Kunal Bothra

Kunal Bothra, Head of Advisory at LKP is of the view that Bharat Heavy Electricals may rally till Rs 225.

Kunal Bothra, Head of Advisory at LKP told CNBC-TV18, "I am looking at the larger pattern over Bharat Heavy Electricals  especially looking at the kind of rally which it witnessed over the last six months. It is exactly trading at that support trendline; Rs 205-206 is where the trendline support tests for BHEL."

"I am looking at it from a weekly perspective that over the next couple of weeks this support line should hold on for BHEL and you may see a bounce back happening. So, I am betting on that over the next couple of weeks. The stoploss on BHEL is extremely tight at Rs 200 and if the stock bounces from here you could see a rally till as much as Rs 225 in it," he added.

Disclosure: Analyst has no personal holdings in the stock but it is possible that he may have recommended the stock to his clients at LKP.

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