BEML-1- short & mid-term view

May 11

BEML cmp:3241; RSI: 40.42
As per wave analysis, BEML has completed ABC correction pattern and at verge of breakout. RSI also suggest the script is at oversold category, the current market sentiment may further break it down in intraday swing of in range of 3075-3224. This opportunity should be garbbed for fresh entry, those who hold the script should continue holding it with a stop loss of 3050.. Current chart trend is strong, clouser of BEML above 3357 level with volume should confirm the breakout, short term tragets as below:
Short term target: 3725 (4W); Mid term target: 4138 (4M)Stop loss : 3050

May 14

Trade active

BEML @ 3745; Short Term Target Reached, Book profit (50%) and accumulate at lower level.

May 18

Trade closed: target reached

BEML cmp:4169.70 @ 18/06/24; Mid Term Target Reached.
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Jun 5

Trade active

Good chance to accumulate the stock, this political turmoil will last for a week and BEML should achieve its target of RS: 4925 in nest 45 days.

Jun 15

Trade closed: target reached

Targets Achieved: All the targets identified from the April 6th, 2024 chart analysis have been met. The last target of Rs. 4925 (Stretched Target) is anticipated to be hit sometime next week, possibly as a peak during the day, before profit-taking occurs. It's recommended to secure your profits and watch from the sidelines.

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