BEML FORMING INVERSE HEAD AND SHOULDER (EASY 20%)

6 Tem

The stock has been in a bullish trend since quite long and has been forming an inverse head and shoulder pattern lately . the stock has also seen rise in the volumes which is also a pretty good sign . also the PE is pretty low 74 as compared to the industry standards which is 98

The company is a leading defence equipment manufacturer with order book of more than 12000 cr. The stock had a crucial resistance at the 4806 level which was breached pretty well and now it can give upto 20% upside

TARGET 5745
TIME 4-6 weeks