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BEPL trade ideas

BEPL - Will it break 3 year high?BEPL is placed at very good position, technically. Fundamentally, stock seems very good for below reason, 1. Promoter increased its stake by 1.46% in first quarter of 2020(Jan to March). post which quarterly results are improving. 2. OPM% Margin increased significantly from Sep 2020 quarter and post it. 3. Zero debt. debt reduced to zero from first quarter of 2020(Jan to March). 4. Cash flow improving from year end march 2020 onwards 5. FII increased stake to 2.55% in last quarter(June 2021). only negative is "Debtor days have increased from 66.55 to 82.14 days." Source -Screener.in
NSE:BEPLLong
by viralpatoliya
Identifying and trading the Rounding bottom patternThe above chart is of BEPL (Bhansali Engineering Polymer Ltd), on weekly chart. The stock made a high of around 218 on Jan 2018, then corrected by almost 30% and again made a new high of 225 in April 2018, where it could not sustain and hold the previous high if 218 on weekly closing basis. After forming a kind of triple top at around 215-225 levels in April 2018, the stock started its downfall. It corrected a whopping 90% from its high of 225 to make a low of 22.75 on March 2020. In between the stock gave some bounce back, where it failed to hold the bounce, where volumes had almost dried up. On March 2020, stock made a rounding bottom pattern where it made a low of 22.75, and started trading in tandem with the Index, making higher highs and higher lows on weekly chart.The rounding bottom pattern was confirmed, when the stock breached its previous resistance level of 58-60 with good volumes. After breaching the resistance, again stock re-tested the resistance level of 58 and successfully held that level on weekly closing basis, where it became new support level for the stock for its further upward journey. Also there was some good volumes recorded along with price action during the successful breach of resistance, which gave the confirmation of rounding bottom. Currently, the stock is trading around 195-197 levels, returning a whopping 750% over a period of 18 months. And is just 14% away from its ATH, which seems quite possible for the stock again to reach its ATH price, which has outstandingly rewarded its investors, who held on with it in patience. As our market guru Mr Buffet says "Market is a tool to transfer money from impatient to patient". Now, as the stock is on course to move towards its ATH, we will have to wait and watch, if the stock successfully manages to breach the previous high and makes a new ATH. Again, the volumes should be monitored during any successful breach of previous high levels and sustaining above those levels, would further take the stock to new territory. Hope, this post was helpful in identifying Rounding bottom pattern and getting the confirmation of same. Also, one should also check the fundamentals of the company, before initiating any trades or considering to trade, as it would help us to know more about the companies current situation and its future prospects. Happy trading !!
NSE:BEPL
by AK1808
1
BEPL - Bullish BreakOutThe stock was moving in an ascending pattern on the lower trend line, and has now crossed the top resistance level. It is now trending closer to its all time high of 224.5, which is given as a near term target. Break out happened with significant volume, suggesting that the trend is expected to continue. Depending on your risk profile, you may maintain a stop loss at ~180 levels. Please follow us for more trading setups like these. If you have any queries/suggestions related to above pattern, feel free to type below in the comment section. Do show your love by pressing the like if you liked the idea.
NSE:BEPLLong
by Yes2Profits