Sudarshan Sukhani, s2analytics.com share his view on BEML .
Sukhani told CNBC-TV18, "BEML is now at Rs 476. In the 2007 bull market it had reached Rs 1,900 and that's a PSU stock, it's not a penny stock. Rs 1,900 and this is where it has landed up now. From Rs 1,275 it has slowly and steadily come down to Rs 475."
He further added, "Now here at Rs 440-450 it's finding repeated support. That's a long-term view that it seems reasonable to expect BEML to be bottoming out now. If that is a long-term view then in the short-term BEML is in a tight 20 point range for the last three weeks."
"It's ready for a big move and it should be on the upside because the lows seemed to be heading in red now. So BEML is a day trade. On Friday it actually closed higher. So that suggests that we should see follow through. That follow through would also see a breakout."
