Momentum Pick - Buy BEML Ltd For Target Rs. 1450 - HDFC Securities
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Momentum Pick - Buy BEML Ltd For Target Rs. 1450 - HDFC Securities
* After showing a minor declines/sideways consolidation, the stock price has shifted into an upside bounce.
* Today’s upmove could be considered as an upside breakout of the narrow range movement/immediate resistance.
* The short term trend seems to have turned positive.
* We observe a formation of positive candlestick pattern as per intraday/daily/weekly timeframe chart.
* Volume has started to rise along with the upmove in the stock price.
* The intraday/daily RSI is showing positive indication.
* The overall bullish chart pattern of the stock price indicate long trading opportunity. One may look to buy as per the levels mentioned above.
BUY BEML Ltd @ 1381.60 TGT 1450 SL 1356
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