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K Seshadri
As BHEL keeps moving down, traders should consider accumulating this at the low prices. The scrip will soon bottom out in the range of Rs 209 to Rs 220.The technical indicators have gone into the oversold region. BHEL has now been able to get credit lines and would be able to push its sales up.
The scrip's potential is to be seen in terms of its fundamental strength. Right now it is down on selling pressures from bears considering the vulnerability of Unit Trust of India, which holds sizeable portion. But that trading technique does not rob the scrip of its upside potential, when the dust settles down. The scrip is recommended for those who would like to combine medium term view with short term possibilities.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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