BEPL consolidatingEither the stock starts up move from here or may visit support at 120.50 for further up move
BEPL trade ideas
A revisit gives a better perspective.293 days daily chart. The 8/1 ascending angle at 119.50 never got tested. The 1/1 descending line will have diminishing influence as today the stock has turned bullish and hit UC. Expect 155.50 in the short term which is 4/1 resistance on the ascending fan.
Seems downtrend arrested.Bearishness will gradually go away as the stock goes away from the influence of descending line. Today the hindrance was the Upper Circuit limit of 5%. The stock will start behaving normally once it crosses 8/1 ascending line which it may cross in two days at 140.70.
BEPL in bearish trendIf due to result the scripn turns bearish, intermediate support exists between 131-134 and further down 2/1 support exists at 108.5
In my opinion BEPL may not go down to the next supportThe triangle formation with dozi may be the indication of imminent breakout this week or early next week. 140-142 may turn out to be a good entry point, as was earlier assumed.
Crossed important resistanceCrossed important 4/1 resistance. One may hope for 169 and support at 147.90
BEPL Accumulation Hi All,
As per the chart details I think there is further some more downside with a SL of 110, but if you look the company fundamental and other aspects I think this is the best time one can make entry and can reap the gains.
Thanks
Gaurav
Short term down side at 171.85Short term down side seen at 171.85 in short term, before any up move. When 3/1 angle is met, it will act as a support line.
BEPL: Bottom FormationBEPL has formed a strong support at 158
Recommended a strong buy on this stock and add on dips
Buying range: 185 to 195
SL : 158
Target: 250-260
BEPL : Could be buy on dipsScrip can be seen taking crucial support at 158 and has formed cup and handle formation. Any pullback could be opportunity to buy fundamentally sound company. I think once it comes out of the formation after some pullback, Should surge up to greater highs
MACD bearish convergence can occur when the moving averages move towards each other and can pullback the scrip near support levels due to short selling or shortes
Pros:
1) Debt free (The company recently made announcement that the pledged equity shares of promotors have been released in tune of 5cr.)
We are also encouraged by recent promoter activity (sequential improvement in share holdings), debt pay-off (zero debt company) and the release of pledge shares.
www.bseindia.com
2) Auto sector booming which would eventually benefit the company in long run
Bhansali Engineering Polymer's (BEPL) improving earnings trajectory, strengthening balance sheet and traction in capacity expansion adds to our conviction on the stock.
www.moneycontrol.com
However, Higher other expenses (63% QoQ) due to a forex loss (Rs 6.82 crore) and debtor write-off (Rs 8.56 crore) dented net profit sequentially (-2% QoQ). but the company should recover for it in next quarter
Cons:
1) P/B on higher side: 13.99
2) Stock P/E: 37.28 on higher side
3) P/S on higher side
www.screener.in
however, seeing the growth history, The cons can be overshadowed by long term investors showing conviction in the company
Bhansali Engineering Polymer (POSITIONAL)POSITIONAL
Bhansali Engineering Polymer
Buying Range :- 195 to 185
Support :-170 (CB)
Target :-250 280 300+++
BEPL: All time highLong term Positional players can take positions on dips with stops near recent lows of 150
BEPL Buy at CMP 98Fresh buying at CMP 98 is ideally good for short term as stock come out breakout zone. Also volume is good to support for further moment. Maintaining SL as 87
BEPL - Soaring high !BEPL is soaring high after posting excellent results. is trading at all time high.. can easily scale to new heights.
It was initially suggested on Aug 3 at 74.
Note: Please do your own analysis before taking a position. Happy Trading !
BEPL - Can it reclaim its high ?BEPL , bounced back from support line and held well in weak markets.
Note: Please do your own analysis before taking a position. Happy Trading !
BEPL - Investment Stock!BEPL has formed rounding bottom in monthly chart. The resistance which is also the completion of rounding bottom around the level 43- 46 should break with high volume . When price action breaks it with significant volume , price will move up further. I expect this stock to gain 15 to 20 points in one to two years. The rounding bottom or saucer bottom is a long term reversal pattern which indicates a shift from the downtrend to an uptrend. This pattern forming in the monthly chart indicates this script is turning more bullish . When buyers enter the market at a low price, it increases the demand for the stock . Once the rounding bottom is complete, the stock breaks out and will continue the uptrend.
