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Showing posts from October 5, 2013

BEML

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MUST READ
BEML (176) - Posted on 11th June 2012 "Hereafter Hurdle 410_450 If not move beyond,  then short term ultimate down side target 120"
 This was posted when it was traded at 384 and after this post it went up to 414.10 on 05th July 2012 and from there fall started and on 08th Aug 2013 it attacked the mentioned down side target of 120 (on that date it made low 106 and not only that from there it moved up and on the same day itself, it closed at 143). So this 75% fall from the high,took more than one year to complete the mentioned down side target.
Now, as for as this stock concerned already bottomed out at 120 level and after 8 weeks consolidation, this week it zoomed  23 %  **** Below is the weekly chart of BEML, for zoom click the chart 

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now what is in ?
Immediate Support exists at 166-156
and face resistance 190--200
But trade and stays above that next in upside  270-290
and above that 365-385