BEML- Breakout update
BEML CMP: 4360.25; RSI: 67.40;
BEML has completed primary level ABC correction pattern. Now clear breakout above 4280 level was observed as script is sustaining above breakout level from last 3 consecutive trading sessions, representing strength in script and bottoming out signs.
Thus, fresh position in BEML can be initiated. Chart structure is strong and must be accumulated for a swing trade as per below suggested levels.
Accumulation Zone: 4300-4400
Stop Loss: 4280
Target: 4604-5052-6234
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BEML has completed primary level ABC correction pattern. Now clear breakout above 4280 level was observed as script is sustaining above breakout level from last 3 consecutive trading sessions, representing strength in script and bottoming out signs.
Thus, fresh position in BEML can be initiated. Chart structure is strong and must be accumulated for a swing trade as per below suggested levels.
Accumulation Zone: 4300-4400
Stop Loss: 4280
Target: 4604-5052-6234
✅ FOR MORE TRADING IDEAS LIKE THIS, PLEASE LIKE, SHARE, AND FOLLOW MY IDEA STREAM ✅
Trade closed: stop reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.