varadtambolkar

BEML Multi year breakout.

Long
NSE:BEML   BEML LTD
Stock Consolidation since May 2006, between Rs 1800 & Rs 271.

Strong volumes after 2018 indicate there is strong accumulation is complete.
In March 21 Stock gave breakout of the accumulation zone.

Current attempt to breach life high will be 4th attempt. Higher number of attempts means resistance is weakening.
We may see a breakout soon.

On lower time frame


Stock has formed a ascending triangle and also a inside bar below the resistence.
Inside bar is small bodied red candles of low between 2 high volume green candles.
Inside bar increases chances of breakout.
( Below are the some examples of inside bars in links attached )
Comment: Today gave ascending triangle Breakout 🤟🏾
Comment: New Life High
Out of 15 year consolidation

40% profit at breakout

What else do you want?

Now from current level ready for 40 to 50% upside.

✌🏾