UnknownUnicorn4260559

BEML : Inverted Head & Shoulder

Long
NSE:BEML   BEML LTD
As it is evident from the daily and weekly chart, BEML has formed inverted H&S pattern. Breakout took place sometimes in the past but target of the pattern 1300 + is still to be seen. 938-927 would be the range to buy with stop loss below 900 ( daily closing). The best part is H&S which is a trend reversal pattern has been formed after a multi month bearish trend . Higher top higher bottom series has already started which suggests that counter has moved into bullish zone.

It can be a long term bet if investors wants to hold for 2-3 years. Stop loss for long term investors would be 820 on closing basis.
Trade active: Keep stop loss at 774

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out