Breakout from Multi-year ascending channel in BEML Ltd(Monthly)
Diupdate
BEML was trading within an ascending channel since 2006.It gave a breakout from the channel in the ongoing month of Jul'23 forming a large bullish candle on a monthly time frame returning nearly 25%. The Stock rose nearly 11% today hitting an All Time High of 2056.55.
Stop Loss: 1659 (daily closing basis)
Fundamentals:
BEML is Asia's second-largest manufacturer of earth moving equipment. It is a PSU which is into manufacturing heavy equipment, which meets the needs of mining, construction, power, irrigation, fertilizer, cement, steel and rail sectors.
BEML operates in three major business verticals associated with equipment manufacturing:
1) Mining & Construction
2) Defence & Aerospace
3) Rail & Metro
BEML has recently introduced road headers and slide discharge Loaders for underground mining applications. Railway products include integral rail coaches, electric multiple units, rail buses, track-laying equipment and overhead equipment inspection Cars. BEML manufactures heavy-duty trucks and trailers and hydraulic aggregates for the transportation sector.
BEML's aerospace division manufactures Ground support equipment such as Aircraft Towing Tractor, Aircraft Weapon Loading Trolley, Multi-purpose Weapon Loaders and Crash Fire Tender.
Competitors: Action Contruction Equipment(ACE) , JCB, Caterpillar Inc.
Stop Loss: 1659 (daily closing basis)
Fundamentals:
BEML is Asia's second-largest manufacturer of earth moving equipment. It is a PSU which is into manufacturing heavy equipment, which meets the needs of mining, construction, power, irrigation, fertilizer, cement, steel and rail sectors.
BEML operates in three major business verticals associated with equipment manufacturing:
1) Mining & Construction
2) Defence & Aerospace
3) Rail & Metro
BEML has recently introduced road headers and slide discharge Loaders for underground mining applications. Railway products include integral rail coaches, electric multiple units, rail buses, track-laying equipment and overhead equipment inspection Cars. BEML manufactures heavy-duty trucks and trailers and hydraulic aggregates for the transportation sector.
BEML's aerospace division manufactures Ground support equipment such as Aircraft Towing Tractor, Aircraft Weapon Loading Trolley, Multi-purpose Weapon Loaders and Crash Fire Tender.
Competitors: Action Contruction Equipment(ACE) , JCB, Caterpillar Inc.
Catatan
BEML is approaching its target 1..Those who have not invested can still enter as per their discretion.Catatan
Target 1 achieved on 26th Dec' 23 !Catatan
All targets achieved !!! Discretion: I have open position in BEML and I am still holding it.
Catatan
3475 - 3620 is a strong support zone. Put Stop loss only below this zone as per your risk appetite.
My Stop Loss is at 3393(daily close)
Trading ditutup: target tercapai
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.