BHEL may test Rs 330, says Jai Bala

Jai Bala of cashthechaos.com is of the view that BHEL may test Rs 330 and feels that Reliance Industries may rise by 10-12 percent.

Jai Bala of cashthechaos.com told CNBC-TV18, "Pharma names are coming to life or they have already come back to life. There is a good chance that pharma will be an outperformer in this league of the market and I have been bullish on the engineering stocks and power sector stocks, particularly  BHEL  that will be doing pretty well. We are looking at something like Rs 330 for BHEL and although it has underperformed on Friday, BHEL is looking very good even at this level and of course you can't exclude banks from it. At this point,  SBI  still has some headroom for the rally. So these are the names I am looking at."

" Reliance Industries , which has actually started showing some signs could continue to give some more higher returns but it is not a trend changer in the longer term, it is still moving within the longer term range of Rs 1,060 to Rs 850. So, from the current level, it could offer
another 10-12 percent higher," he said.

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

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