BEML LTDLong
BEML Ltd: Bullish Breakout Analysis
Update:
BEML secured a ₹136 crore order from the Ministry of Defence, strengthening its fundamentals and boosting investor sentiment.
Outlook:
The technical breakout, combined with a solid fundamental catalyst, positions BEML for a potential rally toward ₹5,200–₹5,470. A stop-loss below ₹4,300 is advised for risk management.
Disclaimer:
This is for educational purposes only. Please consult a financial advisor before investing.
BEML secured a ₹136 crore order from the Ministry of Defence, strengthening its fundamentals and boosting investor sentiment.
- Technical Highlights:
- Breakout Zone: Stock broke above ₹4,500 resistance with strong volumes, confirming bullish momentum.
- Key Levels:
- Support: ₹4,300 | ₹4,040
- Resistance: ₹4,762 | ₹4,995 | ₹5,205 | ₹5,472 (Fibonacci target).
- Trend: Higher highs and higher lows indicate a sustained uptrend.
- Momentum: RSI in overbought territory suggests strong buying pressure, with potential minor pullbacks.
Outlook:
The technical breakout, combined with a solid fundamental catalyst, positions BEML for a potential rally toward ₹5,200–₹5,470. A stop-loss below ₹4,300 is advised for risk management.
Disclaimer:
This is for educational purposes only. Please consult a financial advisor before investing.
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.
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.