Buy BEML Ltd.

Analysis:

• Stock started its upward momentum from Oct. 2013 & made high of 248 in Dec. 2013 and enters in correction phase.

• Stock is corrected 61.8% from its recent high of 248 and after taking support at 180 and forming base there. After few trading sessions stock came out of range.

• Indicator ADX suggests buying signal. Also as per MACD analysis there is a bullish central line cross over suggest positive sign.

• Stock is above its 20 days SMA, 50 days EMA, 100 days EMA & 200 days EMA suggest it’s in uptrend.

Strategy: Buy BEML at CMP- 203 for possible Target- 224/ 232 with stop below 194 on daily closing basis.