This script was started to taking a good trend line support since December 2020 Now it broke and retested. Trendline support now acting as a resistance. even though retracement level is not up to the point as per overall condition it would go down side. entering at 172.25 Risk: Reward=1:1.75, Stop loss: if candle close above 195.40. 162 of our first target,...
I assume BEPL can be a good selection having a strong fundamental and expected good Qty results .
Buying levels on chart
Do your own analysis before trading,
only for educational purpose
Bhansali Engineering Polymers Ltd. engages in the manufacture and sale of acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) resins. Its products include general ABS, flame retardant ABS, polycarbonate and ABS alloys, transparent ABS, and extrusion ABS. The company was founded on April 9, 1984 and is headquartered in Mumbai, India.
Stock is trading near Weekly channel support. Can be bought at CMP for a good 18% return on a risk of around 4%.
To be hold for minimum 2-3 weeks.
Note: If price breaks above 214 with a good bullish weekly candle, this stock can give big returns if kept patiently.
BEPL looks to move in a parallel upward channel and currenty is trading at the lower end of the channel...one can enter after spoting a bullish candle or as per their setup.The strong quarterly numbers would help it sustain within the channel and make new highs.The risk reward ratio is in absolute favour,One can have a small stoploss and the potential upside...
BEPL is in resistance of weekly basis and strong supply area. If It will cross this level then it will blast. Even its rounding bottom completed at this level
Keep an eye out for BEPL to breakout
It is good for targets of 240 in short tern and 380 in long term!
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
The stock made a new 52W high, breaking the resistance with high volumes.
If it is able to sustain levels of 210 tomorrow. it looks poised to reach levels of 225 and 248.
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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...
The 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...
Bhansali Engineering Polymers Ltd. engages in the manufacture and sale of acrylonitrile butadiene styrene (ABS) and styrene acrylonitrile (SAN) resins. Its products include general ABS, flame retardant ABS, polycarbonate and ABS alloys, transparent ABS, and extrusion ABS. The company was founded on April 9, 1984 and is headquartered in Mumbai, India.
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