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BEPL Chart Analysis - for Short to Medium Term
BHANSALI ENG. POLYMERS LTD
BEPL Chart Analysis - for Short to Medium Term
By chanakyak
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Mar 17, 2018
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Cheer
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Mar 17, 2018
BEPL looking like in Consolidating and Forming the "
Descending triangle
" pattern on day charts.
Price recently got rejected from 50% levels recently and moving side ways with lower levels.
Although its making strong support at 155 - 160 levels, but looking at overall trend and nifty , price likely to break the support.
This confirms the bearishness and confirmation of "Descending triangle" pattern breakout.
The first demand point will be 135-140 where we can expect minor retracement.
If price fails to hold above level, we can see 110-120 levels, which happens to be Major demand point and we can expect price reversals strongly.
Investors are advised to Use
"Buy in Parts - Buy in Dips"
strategy until they see a clear hold of mentioned levels.
Fibonacci
medium-term
mediumterm
priceaction
priceactionanalysis
priceanalysis
Supply and Demand
Triangle
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