Can I enter BEML to average my position?
AVOID BEML FOR NOW
BEML is currently trading at Rs 817.45. Its 52-week high/low stand at Rs 1947.45/737.45 made on September 19, 2017 and July 23, 2018 respectively. The stock is seen falling with lower tops and lower bottoms since its 52-week high level. The stock had attempted a bounce with sharp rise from the 52-week low, breaching its prior resistance, but it retreated sharply and is now consolidating at lower levels. The volumes are low and the 14-period RSI below 55 suggests lack of momentum. The stock is also trading below its 50, 100 and 200-day EMA resistances. We suggest you to avoid for now and enter above Rs 855-870.