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Bemllong

BEML Targeting 5500 Amidst Bullish MomentumDetails: Asset: BEML Limited (Bharat Earth Movers Limited) Breakout Level: Watch for sustained momentum confirmation Potential Target: 5500 Stop Loss: Below recent support levels or as per risk tolerance Timeframe: Short to medium-term Rationale: BEML is showing strong bullish momentum, with technical indicators suggesting a potential move toward the 5500 level. Positive investor sentiment and robust demand in its sector further support this bullish outlook. Market Analysis: Technical Setup: The stock has been showing consistent upward movement. A clear trajectory points toward 5500 as a key target. Sector Strength: As a leader in heavy earthmoving equipment and infrastructure support, BEML benefits from ongoing infrastructure and defense projects. Price Target: The immediate focus is on 5500, with potential for further gains if momentum persists. Risk Management: Place a stop loss below critical support levels to manage downside risk in case of market volatility. Timeframe: The move to 5500 is expected in the short to medium term, driven by technical and sectoral tailwinds. Risk-Reward Ratio: Favorable, with strong upside potential and manageable downside risk near support levels. Keep tracking BEML’s price action and volume for further confirmation, and consider market conditions that could influence infrastructure and defense stocks.
NSE:BEMLLong
by CyborgTradingHub
Breakout from Multi-year ascending channel in BEML Ltd(Monthly)BEML was trading within an ascending channel since 2006.It gave a breakout from the channel in the ongoing month of Jul'23 forming a large bullish candle on a monthly time frame returning nearly 25%. The Stock rose nearly 11% today hitting an All Time High of 2056.55. Stop Loss: 1659 (daily closing basis) Fundamentals: BEML is Asia's second-largest manufacturer of earth moving equipment. It is a PSU which is into manufacturing heavy equipment, which meets the needs of mining, construction, power, irrigation, fertilizer, cement, steel and rail sectors. BEML operates in three major business verticals associated with equipment manufacturing: 1) Mining & Construction 2) Defence & Aerospace 3) Rail & Metro BEML has recently introduced road headers and slide discharge Loaders for underground mining applications. Railway products include integral rail coaches, electric multiple units, rail buses, track-laying equipment and overhead equipment inspection Cars. BEML manufactures heavy-duty trucks and trailers and hydraulic aggregates for the transportation sector. BEML's aerospace division manufactures Ground support equipment such as Aircraft Towing Tractor, Aircraft Weapon Loading Trolley, Multi-purpose Weapon Loaders and Crash Fire Tender. Competitors: Action Contruction Equipment(ACE) , JCB, Caterpillar Inc.
NSE:BEMLLong
by finvestar
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
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