I still feel u can but power equipments!

Power as a sector and power eqipment is one of the major growth drivers and i dont see a sell call in any of these!
2012 we are targetting to see the real potential of power so we have two options either wait for 2012 or sell on valuations close to FY12 xPE
ABB is good 800(4000) i dont see it as expensive in these rates
Areva and suzlon(one of the major stock which is a buy! at 1050-1120 levels)
BEL is a buy as well as BHEL (moderate buy)
Use all these options to diversify in this sector...
Moreover add on sum voltamp trans or indotech trans and hind rect if u feel that more diversification is needed.
Siemens a mojor stock ofthis sector looks a hold
ABB seems better of all private while BEl is better in public sector stocks.
hold bhart bijlee too.......as well as cable stocks like diamond torrent or ramswarup wires this is a proxy too power.Jyoti struct is good if u see long term it is also a power stock as builts power structures
L&t is evergreen so is the great GMR and gvkS( HOLD THEM!)