Tuesday 7 October 2008

Buy engineering stocks with 6-8 months timeframe: Bhambwani

Technical Analyst, Vijay Bhambwani is of the view that one can buy engineering & capital goods stocks at lower level with a minimum of 6-8 months timeframe.

Bhambwani told CNBC-TV18, "I would feel comfortable with Larsen & Toubro Limited (L&T) maybe 4-5% lower from here because that’s when it will start getting into the oversold territory. Bharat Heavy Electricals Ltd (BHEL) is a counter, which is holding out some promise although I would reduce my weightage on BHEL at these levels as compared to L&T at 5% lower levels from here but anything that you buy in this space has to be for delivery and with a minimum of 6-8 months timeframe, if not more."

Source: Moneycontrol

Posted by Harsh at 06:52

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.