BEML gave double pin at moving average resistance on Daily timeframe.. we can take it for short sell trade. for swing like next 7-8 hourly candle may give downside view. lets see. trade according to your risk
We will not initiate this as a touch trade.. but a price action entry, which i will updat once we ge t this entry... and if we dont get entry , we have an awesome level below too...
Lets see what happens
BEML has just broken its neckline and also breaking out of the upper band of the BAND-BOLLINGER
we can expect a price target of 1290 on the stock with the current formation.!! stop loss below the neckline.
As can be seen the price has reached previous resistance turned into support. The stock can show a reversal from here as seen in an uptick in AD line whilst the price is moving down. there is no positive divergence with Nifty 50 and performing worst as index has moved sideways the stock has moved down further.
The stock can be bought for short reversal till it...