Technical Analysis of Indian Equities by Nooresh

BEML — Highly oversold and time for strong momentum



BEML --- After a huge fall on back of news the
stock has finally made a strong double bottom.
Sustaining the 315-320 mark can give a move
to 360-400 in short term.
Buy with a stoploss of 305.



Disclosure: Earlier long advised at 280 and now a fresh buy at 315





Article by Nooresh Merani

Nooresh has written 2801 articles.

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{ 9 comments… add one }
  • Kaushal October 3, 2012, 21:23

    Hi Nooresh,

    Most of your recent stock recommendations have been a good pick. Any view on ICICI Bank Ltd.? Don’t you think the stock is in a highly over-bought position and can reach somewhere near the 950-970 levels in the near future.

    Awaiting your view.


    • Nooresh October 6, 2012, 01:27

      If it dips to 950 a buying area.

  • srinivas p October 4, 2012, 00:16

    Great call!!

  • bhanu October 17, 2012, 11:54

    hi Nooresh,

    Thought the stoploss has not hit yet. do you see an upside on this still?

    • Nooresh October 18, 2012, 13:00

      Yes will stick till stoploss is not taken out.

  • bhanu October 23, 2012, 15:28


    Stoploss hit but bouced back. should i exit ?


  • Pankaj Mohta December 1, 2012, 11:27

    looking for update on BEML. Down , beaten and now resurging . Even some good news in the form of new railway minister PK Bansal, Do you see revival?

    • Nooresh December 1, 2012, 15:52

      Hi pankaj,

      Took a stoploss hit on this one. Expected it to bottom out but not happening. So for now will wait for a strong upside move to confirm a trend change. till then just wait and watch.


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