BEML has been in downtrend for 15 trading sessions in a row on back of some rumors by CAG on inflating there books which has no substantial evidence but was able to crash the stock for 30% in matter of 3 trading sessions.
On Technicals terms stock looks ripe for a bounce back as it is moving between 5 DHEMA@678.2 and 5 EMA @ 658.
Close above 678.2-780 will bring back buying in the stock.
If we see the weekly charts the and take fibo resistance from high of 820 to low of 570
50% @696 and 61.8% @ 725
These 2 are resistance once 680 range is crossed and stock do a closing above it.
Buy above 680 Tgt 696 and 725 Sl 657
Bullish Wolf Wave Formation on SAIL Weekly Charts with positive divergence in RSI
Buy above 169 for Tgt of 193 (Positional Call Based on Weekly Charts)
Buy above 164.65 Tgt 166.1 and 168.3