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PriceActionTrader1

BEML - Bearish Continuation

Short
BEML LTD (NSE:BEML)  
PriceActionTrader1 Updated   
NSE:BEML   BEML LTD
Support and Resistance Harmonic Patterns Butterfly butterlfly Deep Crab supportandresistancezones
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supportandresistance harmonicpatterns butterflypattern butterlfly deepcrab supportandresistancezones
BEML has been trading in downtrend due to market weakness and has also broken the neckline support. It has activated two possible harmonic patterns, Butterfly and Deep Carb. Targets are 1040 (target #1) and 760 (target #2) respectively. Both targets are very important levels. So price might reverse from either of them, most likely from target#1. If market weakness prevails then it might continue down to target#2.
Comment:
Price is approaching Target #1.
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