The recent carnage on PSU stock took toll on almost all of the PSU stocks.....if i can't rely on Govt stocks then how could I keep faith on the Pvt ones. I see opportunities in various of the PSU stock and amongst them one of which is BEML. I don't understand about much of valuation however I understand the business which is it into. Its a class in its business.
Technically some shopping can be done in the region of 138/123 which is its long term support level and below 123 the next level to get into BEML is somewhere around 100 & 82-80. The stock is currently at its 2004 lows....Amazing!!!!!!
Always buy in parts...never ever buy the desired qty at one shot.
Cmp Rs 148
(edited later) at 4.34pm on 23rd March*** Technically a trader can get out below 122/120 and try to enter near the next support level for any bounce.
And those who like BEML for investment purpose can enter step by step in the above mentioned range.
Technically some shopping can be done in the region of 138/123 which is its long term support level and below 123 the next level to get into BEML is somewhere around 100 & 82-80. The stock is currently at its 2004 lows....Amazing!!!!!!
Always buy in parts...never ever buy the desired qty at one shot.
Cmp Rs 148
(edited later) at 4.34pm on 23rd March*** Technically a trader can get out below 122/120 and try to enter near the next support level for any bounce.
And those who like BEML for investment purpose can enter step by step in the above mentioned range.
On 28th March 2013 BEML hits low of 136.10 which was our recommended buying range.
ReplyDeleteFrom there it went on to hit 160 giving away return of 16% as of 1st April when this message is posted.
BEML hits 188...return generated 37% so far
ReplyDeleteWhile coming down again BEML took support near the 123 level where it made low of 125.05 on 7th August 2013.
ReplyDeleteCurrently at 144.