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BEML LTD.BEML LTD.BEML LTD.

BEML LTD.

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BEML trade ideas

BEML Multi year breakout.Stock Consolidation since May 2006, between Rs 1800 & Rs 271. Strong volumes after 2018 indicate there is strong accumulation is complete. In March 21 Stock gave breakout of the accumulation zone. Current attempt to breach life high will be 4th attempt. Higher number of attempts means resistance is weakening. We may see a breakout soon. On lower time frame Stock has formed a ascending triangle and also a inside bar below the resistence. Inside bar is small bodied red candles of low between 2 high volume green candles. Inside bar increases chances of breakout. ( Below are the some examples of inside bars in links attached )
NSE:BEMLLong
by varadtambolkar
BEML - 16yr Mega Breakout with Volume BUY GUIDANCE: Never buy before 3PM (for positional trading). I have been burnt many times over. Try to buy between 3:15 - 3:30PM, later the better. SL: Depending on your risk appetite: Below Weekly BO Candle / Below Daily BO Candle / 50% of Weekly BO candle / Below 20DMA TGT: After a 10-15%+ vertical move, breakdown of 20DMA (on a daily close basis) SELL GUIDANCE: Selling in Profit: Sell earlier in the session when the prices are higher, around 11AM. Selling at SL: Give your stock a chance to recover by end of session. If it doesn't recover, sell anywhere between 3:00 - 3:30PM. Note: The breakout levels are derived from the weekly line chart which is respected much more by smart money. DISCLAIMER: I reserve the right to be wrong. I am not a SEBI registered analyst. Please consult your financial advisor before investing.
NSE:BEMLLong
by raavigeorgian