BEML
Ltd on a daily chart stock price is making higher high and higher low pattern
also stock price is trading above the 20 DMA, indicate positive outlook for the
stock price. Technically on daily chart stock price at Rs. 968 has given the
breakout of rounding pattern at Rs, 938 level, indicate stock price can rally
towards previous high swing, which look most likely.
If one were to go by the
volume data, a higher upswing is seen on the stock price. Trader or investor
can accumulate at Rs. 968 for the target of Rs. 1100 levels, with Rs. 892 stop
loss on closing basis.
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