Technical Analyst, Ashwani Gujral is of the view that one can buy Larsen and Toubro, L&T, Bharat Heavy Electricals, BHEL for long term.
Gujral told CNBC-TV18, "No, I think they are going to go in long consolidation because they are also quite over owned and had a great year last year, so this becomes a good time for them to consolidate. People who want to buy them for long-term L&T around Rs 3,031 from the lows that it made around Rs 4,450."
He further added, "BHEL again a couple of Rs 100 lower but you should not expect, to make a lot of money on the long side probably in the next 3-4 months, I think anyone who buys today should buy at least from a 1 year kind of a time frame and the kind of stocks, which will go up maybe a lot different form the one’s that went up last year. I think one will see a lot of rear guard action from things like auto, IT, banking, they would be the first one’s to move rather than the usual kind of momentum boys."
Source: Moneycontrol.com
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