INVERSE H&S IN BEMLBEML has just broken its neckline and also breaking out of the upper band of the BAND-BOLLINGER
we can expect a price target of 1290 on the stock with the current formation.!! stop loss below the neckline.
BEML trade ideas
Short on BEMLBearish pinbar with strong rejection and good volume formed above 900 levels. The level acted as a previous support and got broken and was tested multiple times as resistances. MACD histogram showing a peak in the upward momentum which can be the start of the downward move and ADX showing an increase in strength. Previous bullish move from 750 to 900 was kind of weak with ADX below 25 and so this is a good sign for shorting. Enter below the low of the pinbar with stoploss just above the high of the pinbar and target at around 790.
Beml LongBEML
Stock in process of forming Inverted Head N shoulder
CMP 817
Target 930/950/1000+
SL 750 (weekly closing Basis)
Time Frame 1-2 Months
Big falling wedge and confirmed breakoutYou can long Beml with green lines as near term targets.
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All the best!
BEML ShortBEML seems to be in the download movement. Tracing the fibonacci, we can expect it to touch 770 levels else if it rebounds from the current level it can reach 920 level
BEML - Stuck in a rangeBEML has been stuck in a tight range for sometime now. The movement from 531 to 950 is impulsive in nature. and the current range is the correction pattern that too above the buyers area of interest. one can look to buy it in the support shown in the chart for a target of Resistance and a breakout there on for target of 1200, which is the next resistance. wait for an impulse from the support area on smaller time frame and enter with tight sl.
Time for entryBEML is presently above support at 600 and fresh entry can be done with an intermediate term target of 750.
Keep a watch on BEML for short reversalAs 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 touches the kijun sen. To change the sentiment to medium - longterm investment it should conclusively trade above the Kijun.
Happy trading / investing
Regards
Shamoil
BEML, ConsolidationDowntrend 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 difficult. SL is a must.
Sell BEML below 1085Sell BEML below 1085
Stock is taking resistance at 50 EMA.
SL : 1135
Target: 1035
R:R ratio : 1:1
#BEML Bullish Belt Hold Reversal with RSI divergence#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.
SELL SETUP NOW DAILY FINANCIAL WISDOM: The world is full of trading techniques and strategies that work until they don't work...
BEML : A bit premature but should be on watchA flag of almost 400 points is visible on BEML. Once triggered expect very sharp move up.
BUY SETAP 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).
BEML LTD - Weekly trend line breakout. Possible move?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*
