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BEML

BEML: Inverse Head and Shoulder BreakoutInverse Head and Shoulders This pattern forms after an extensive downside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bear rally in which the volumes are quite large. At the end of the left shoulder, a minor correction takes place on the upside which happens on the low volumes comparatively the starting of the left shoulder. After this again a down move can be seen on large volumes forming a head having its bottom is below the left shoulder following an upmove correction on lower volumes & completing the head. The completion of the head must be above the top of the left shoulder. If the prices rise above the top of the left shoulder then too this pattern remains intact. In the end, the right shoulder is formed usually on smaller volumes comparatively the previous two rallies. Now if you connect the tops of the left shoulder, head & the right shoulder there will be a formation of the ‘Neckline‘. This line will act as a decision line. If the prices break this neckline & give closing above the line, this will be the confirmation of the breakout of the Inverse head and shoulders pattern. However, it has been noticed that after breaking of the neckline the prices again attracted towards this neckline. We say this phenomenon as a retest of the neckline which will add some more confidence while trading this pattern. After retesting if the prices again start rising, this will be the final confirmation of the up move as shown above. The bookish target of this pattern is taken as the vertical price range from the bottom of the head to the neckline & the bookish Stop loss should be the bottom of the right shoulder. However this stop loss can be big, so it is advised to keep a stop loss of 4-5% of the price range below the neckline. TRADING STRATEGY: Buy near 1410-15 zone with SL of 1240 and look for the target of 1680-1700 zone.
NSE:BEMLLong
by TradingSutra
4
BEML pre-market intraday analysis and setup🎇Hello Traders👋 Today i have made a post on BEML 1hr I hope you find this post helpful and informative👍 The targets and stoploss would be given in the charts or they would be according to pivot points Thank You —DISCLAIMER— I am not a SEBI registered financial advisor Please consider your consultant's advise a must , all the setups posted here will be considered as informative and helpful post I shall not be responsible for your profits and losses
NSE:BEML
by profitpujari
BEML Analysis with support and resistance SYMBOL: BEML Triangle pattern breakout soon 1. Bullish market structure 2. TRENDLINE SHOWN ON ABOVE CHART GO FOR HIGHER TF. 3. Trendline breakout Heading For R1: ~1366+ 4. Good Market Sentiment 5. Perfect Triangle pattern / Consolidation zone 1280 to 1360 (stock for longer tf) 6. Target: Short term: 1394+ Mid-Term: 1457+ Long-Term:1520++ 7. IF BREAKS THE TRENDLINE THE TARGET WILL BE AS FOLLOW : 1240 / 1216 / 1185 / 1128 These PRICE can be +-3/5 RS As Charts are not always so clean 8. You can go to smaller time frame for more details. Disclaimer: we are not SEBI registered, this is only for education purpose so please take advise from your financial advisor, invest at your own risk.
NSE:BEMLLong
by stocknocks