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
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.