BEML had a perfect inverted H&S pattern with volumes confirming. Was a textbook trade, however in reality the breakout was so fast that would have been difficult to catch. Also it may have achieved half of its target with just the breakout candle.
However there might be some steam left as shown in charts.
Rather avoid it due to R:R unfavourable, but can use this...
RSI indicating overbought.
Might come down to retest, thus giving us an opportunity to buy at a lower price.
Keep watching.
First target around 409, then 424, 437 etc. according to pattern it is 93 points higher which likely complete the rounding bottom pattern on a weekly chart of the stock. Keep close look for big gains.
