BHEL, L&T good bets; Fortis Health may test Rs 190: Rajat Bose

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Rajat Bose of rajatkbose.com told CNBC-TV18, ” BHEL until now was actually
coming down pretty strongly and now it has given a bounce back and you see today’s open it just below the Rs 150 mark. So, you can use that as your stop loss for today, say maybe Rs 149.75 should be your stop loss and you can even play long here. It is also attracting good volumes, there is enough buying interest and it could propel the stock to go and cross that Rs 153.50 mark. If it does that then definitely it can actually scale up to something like Rs 155.5 to about Rs 156.”

“Two capital goods players, in a way they are Larsen and Toubro (L&T) and
BHEL are moving in tandem suggesting that at least some buying interest is coming back. Let us see how things will pan out. I am keeping my fingers crossed because the Nifty again is sort of drifting down but BHEL and L&T are the two stocks you can bet apart from Reliance Industries ,” he said.

Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.

” Fortis Healthcare ‘s short-term correction is over and it has taken support on the 50-day moving average and is bouncing back. However, now, it needs to cross Rs 185 decisively. If it were to do that then you can expect say Rs 188-190 on the upside and it would give a fresh breakout above Rs 191.60. However, this is within a range, the range had been for the last three months, Rs 191 to about Rs 185 on the upside and say something like Rs 165 on the downside. So, no great shakes but looking good anyway.”

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