BEPL trade ideas
BEPL ........ Strong support at 59
Breakout from channel, can go long
Window around 112 ..... Can book 75% profitat 110
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Bhansali Engineering Polymers Ltd.
CMP: 53.65
Target: 60 / 70
SL: 47
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Should cross resitance tomorrow.Support 120.30, resistance 132.25, short term targets 144, 146.50, 158, 166
We do not know how it will move post result.My opinion is one should wait for 134-136 for fresh entry when some bullishness returns. Please check RSI, MACD, momentum oscillator along with Ichimoku chart, particularly MACD before entry.
Should close above 131 EODUnless it closes above 131.05, there is a possibility that it may follow descending 1/1 line to find support eventually at 105.
Bullishness returned in BEPLAs was speculated bullishness returned in the counter. If for the next two days it hits circuit, the stock will cross the resistance at ~159.50.
Resistance @155-158Watch out for crossing the band 155-158 for further upmove on the eve of Q1 result
Closing above 153.20 is indication of bullishness1/1 descending fan crossed, one may have a target of 176-180 in near term.
This is a 479 day chart from 01.03.2017. The scrip has just crossed an inflection point at 160.35 where it crossed descending 1/1 fan formed from the top of 224.45 that was touched on 10.04.2018.
It is hoped that the stock does not turn bearish and start toeing 1/1 descending line from tomorrow, that will touch 143.65.
If the stock remains bullish, then short term target is 180.
Once it conclusively crosses 180 and remains bullish, the stock may reach 260 in next one to three months.
Intermediate four descending variable resistance points are there those will be temporary obstacles.
We will examine them when we approach the levels.
With 5% upmove the stock has crossed an important 4/1 resistanceWith 5% upmove the stock has crossed an important resistance of 4/1. The next 3/1 resistance is at around 165. Watch out for 165 in next couple of days.
BEPL, Long, Price Actionsince the stock has tested the support multiple times, it may give away with it and drop to 140.
a quick bounce can be expected from 136-140 level to 156, before retracing back to 140s.
trade only for aggressive players
