BEML study (roof pattern)

Once the weekly candle closes below 1125 BEML could make a deep correction.
Important levels to watch out for are 1025-830-700
Above 1600 this pattern gets invalid and could lead to further rally.

More details about the pattern:
Comment: As mentioned in our previous analysis BEML touched 1025. Now moving towards 830
Comment: Achieved all the targets as analysed and felll deeper!
@tRex88 After this breakout, I am not sure what should be the stoploss? can you please explain what should be the SL if it is shorted below 1125?
+1 Reply
tRex88 JnyaneshBL
@JnyaneshBL, SL is upto individual trade setup and system. I presented this setup more as a chartist than a trader. Since this a weekly chart a min SL above 1250 is recommended in my view
+1 Reply
hi i have short beml at 1330 ,shall i hold for fall or exit due to news behind the todays 26% stake sell in Beml .plz need your suggestions.
+2 Reply
JnyaneshBL riteshtidke07
@riteshtidke07, Did you short this on the basis of RSI? what a right time to short! And I think as @tRex88 shown this had just broke the Roof Top pattern and expected to go much lower. will wait and see.
+1 Reply
riteshtidke07 JnyaneshBL
@JnyaneshBL, yes i found some technical paramneter and last stock history basis on this i have shorted at1330 /- and booked profit at 1107/-
sir abhi i m going to wait for 1090
+2 Reply
tRex88 sunildh20
@sunildh20, cheers :)
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