We will not initiate this as a touch trade.. but a price action entry, which i will updat once we ge t this entry... and if we dont get entry , we have an awesome level below too...
Lets see what happens
BEML has just broken its neckline and also breaking out of the upper band of the BAND-BOLLINGER
we can expect a price target of 1290 on the stock with the current formation.!! stop loss below the neckline.
Bearish pinbar with strong rejection and good volume formed above 900 levels. The level acted as a previous support and got broken and was tested multiple times as resistances. MACD histogram showing a peak in the upward momentum which can be the start of the downward move and ADX showing an increase in strength. Previous bullish move from 750 to 900 was kind of...
BEML seems to be in the download movement. Tracing the fibonacci, we can expect it to touch 770 levels else if it rebounds from the current level it can reach 920 level
BEML has been stuck in a tight range for sometime now. The movement from 531 to 950 is impulsive in nature. and the current range is the correction pattern that too above the buyers area of interest. one can look to buy it in the support shown in the chart for a target of Resistance and a breakout there on for target of 1200, which is the next resistance. wait for...
