BEML

BEML a defense player just managed to give a breakout on daily charts today from falling channel.

Technical targets of that come around 1250.

On weekly charts the stock is also moving in a downward channel and now taking support at lower end moving to upper end which is around 1227.Today stock also managed to cross 5 and 20 day SMA which are around 973 and 1011 respectively. 50 day SMA of stock is around 1126 which is still a good upside from CMP of 1040. Which can be achieved before budget. Stop loss for the trade can be kept at 1010.

Disclosure: I am not a SEBI certified analyst and i do have position in the stock.