As can be seen the price has reached previous resistance turned into support. The stock can show a reversal from here as seen in an uptick in AD line whilst the price is moving down. there is no positive divergence with Nifty 50 and performing worst as index has moved sideways the stock has moved down further.
The stock can be bought for short reversal till it...
Downtrend and price is consolidating. This has been the pattern since 1950 counld not be saved by bulls. That time onwards bears are running the show. As several earlier times, at present also price consolidating in a small range or consolidating. It is possible that price will breakdown the support line which is around 1009. In that case 950 will not be very...
#BEML CMP 1035 (Futures) Positive divergence on RSI coupled with Double Bottom and Bullish Belt-Hold reversal candlestick on Daily Chart. Likely to move to 1080/1150. SL below yesterday's low, i.e. 976.
There's a secret that real traders know and that wannabe traders don't, and the secret is there is no such thing as overbought & oversold." ( All signal for educational purposes only).
Its been observed on weekly chart that BEML LTD is trading above weekly trendline.
Trading strategy:
Buy above 1015 if holds 1000 at downside on closing basis. Target - 1050
Sell below 1000 for Target of 980. SL will be 1015 on closing basis.
*Chart is for learning purpose*
