BEML :- Stock trading above 17 year trendline breakout.
The stock has given a breakout above a 17 year monthly high. The breakout if sustained can take the stock towards 2500+ in the medium term.
Fundamentally the stock is a nice play in the growing defence sector in India, which is getting a boost due the the "Make in India" initiative by the Govt. of India.
The stop-loss should be placed below 1600/- on a monthly closing basis.
Fundamentally the stock is a nice play in the growing defence sector in India, which is getting a boost due the the "Make in India" initiative by the Govt. of India.
The stop-loss should be placed below 1600/- on a monthly closing basis.
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