This is a follow-up to this post where I wrote about my decision to sell BHEL and Crompton Greaves immediately following the victory of the Congress government. Reason being that I thought those highs were due to public euphoria and optimism than anything else. Both of these stocks went down from the very next day onwards. I see BHEL move back to 1750 region and I still believe that BHEL will be a good buy around 1450-1500 which is where I would like to get in. And I see Crompton Greaves moving in a range - 225-250, it has been doing so for quite a while. It is a good stock and I will get into it around 220. That is the price I am comfortable paying and holding for long.
So, for now, decision to sell seems to be good but I can't say it conclusively until I can get back in to these stocks at the prices that I am comfortable with.
Sunday, August 3, 2008
Selling BHEL and Crompton Greaves after Congress victory a good choice?
Labels:
bhel,
congress victory,
crompton greaves
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