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BEML – AFTER A LONG CONSOLIDATION TREND SEEM’S TO BE REVERSING – SEE TECHNICAL FINDINGS

BEML

As we can see the chart of BEML, we can spot that stock has done good consolidation for past 9 month, and now moving above 9-10 months high now.

as per the technical chart we can see that price is now looking to move above resistance level.

as per the rsi we can clearly see that, every stage rsi taking support with price chart and giving up move, still it has just touch the over bought zone now, so if price move up then rsi still having more scope for up movement.

price even able to move above recent double top on chart, so this can also indicate that price move is about to start.

 

with overall representation we can say that if BEML close above 214-15 level for 1-2 trading session then buy delivery in this with 185 sl target 260-335 on positional chart.

above study is given as per the current development on chart, as per price move in coming time, we can see more development and new studies also, which can even given some other signal’s so as per momentum keep trading.

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