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*
Stock is setting up well. Minor trendline break has happened. There are early signs of outperformance Vs Nifty. Keep an eye on this one !!
BEML is now at a major support area which previously acted as resistance & support . Go LONG with a long term goal of 1100 and a stop of 730 with a Risk:Reward of 1:3.
BEML - Will hit 875-877 shortly