Selling BHEL and Crompton Greaves after Congress victory a good choice?

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.

India Stock Markets, Indian Stocks :- BHEL and Crompton Greaves

Sensex ended on a huge high!!! I took this opportunity to get out of BHEL and Crompton Greaves.

I bought BHEL at 1638 and Crompton at 237, Sold them today at 1786 and 257 resp.

Its not that I wanted to make a gain, I think this rally was pure hysteria and wont last long!!

I think both BHEL and Crompton have a little more downside where I want to re-enter and then hold them for long. I believe in both these companies but not comfortable holding them at 1600 and 240. Will be comfortable to hold them for long at 1400 and 210 resp.

I will see how the markets now and if there is no immediate downside then will get into Satyam. It is at a good support level and it has bounced back pretty couple of times before and I dont see any change in the market conditions or with the company itself to prevent another rally.

R

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