Earlier today, BEL attempted a worthwhile attempt to breakout from the symmetrical triangle it is forming since the beginning of 2011. It went as high as 5.95, before settling and closing at 5.80. Still, a breakthrough could be made on tomorrow's trading session. And if a price breakout does indeed happen, BEL could be targeting a nice 9.00 digit.
A clear cut above the 6.00-6.10 levels would signal the breakout from the symmetrical triangle, especially if accompanied with significant volume. As it is, a good entry point is going to be just above the 6.00-6.10 levels, or one could wait for the pull-back after the immediate breakout. Which is likely, since after the 6.10 levels, the next resistance is at the 6.50 level.
In the event of a breakout, and one does make a position with BEL, stops could be placed just below 6.00, as this would mean that breakout is false, and that the consolidation still is not over. Still, as shown from the weekly chart posted above, BEL's uptrend still is going strong, just as directional bias is still pointing upwards.