BEML LTDLong
BEML Ltd: Bullish Breakout Analysis
Update:
BEML secured a ₹136 crore order from the Ministry of Defence, strengthening its fundamentals and boosting investor sentiment.
Outlook:
The technical breakout, combined with a solid fundamental catalyst, positions BEML for a potential rally toward ₹5,200–₹5,470. A stop-loss below ₹4,300 is advised for risk management.
Disclaimer:
This is for educational purposes only. Please consult a financial advisor before investing.
BEML secured a ₹136 crore order from the Ministry of Defence, strengthening its fundamentals and boosting investor sentiment.
- Technical Highlights:
- Breakout Zone: Stock broke above ₹4,500 resistance with strong volumes, confirming bullish momentum.
- Key Levels:
- Support: ₹4,300 | ₹4,040
- Resistance: ₹4,762 | ₹4,995 | ₹5,205 | ₹5,472 (Fibonacci target).
- Trend: Higher highs and higher lows indicate a sustained uptrend.
- Momentum: RSI in overbought territory suggests strong buying pressure, with potential minor pullbacks.
Outlook:
The technical breakout, combined with a solid fundamental catalyst, positions BEML for a potential rally toward ₹5,200–₹5,470. A stop-loss below ₹4,300 is advised for risk management.
Disclaimer:
This is for educational purposes only. Please consult a financial advisor before investing.
Disclaimer
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