Anand Rathi Investment Services has identified BEML Ltd as an attractive stock for investors, with signs of a potential trend reversal. The stock has been correcting for several months, eroding around 35% from its peak of ₹5,466. Currently, it is showing a turnaround from its 50-Week Exponential Moving Average (WEMA) and 200-Day Exponential Moving Average (DEMA), suggesting an opportunity for accumulation.
Key Highlights:
- Entry suggested in the range of ₹3,900 – ₹3,700.
- Stop loss set at ₹2,975.
- Target 1 at ₹4,800 and Target 2 at ₹5,400.
With a breakout from the falling trendline on the daily chart and proximity to a previous demand zone, BEML offers potential for a trend shift. Investors and traders are advised to accumulate with a time frame of one year.
Disclaimer: Stock market investments are subject to risks. Please consult your financial advisor and read all related documents before investing. The content is for informational purposes only and should not be considered financial advice.
