techtrail

Escorts: Nice Consolidation, Opens Up Point & Figure Counts

NSE:ESCORTS   ESCORTS
Escorts has been in a consolidation after a mini-breakout. The volume signature is interesting with a spike on breakout and a dry up during the recent consolidation. A fresh breakout above 686 will be a sign of strength. The vertical count target for the stock based on Point & Figure chart works out to 800. Am looking for long opportunities on a break out above 686 and will abandon my plan if the stock closes below 650.

Here is the screenshot of Point & Figure Chart with vertical count. https://d.pr/b/5bf613fb010764001506cec2

Note: All my "Public Ideas" should be viewed as a public record of my trading notes or #NotesToSelf. They are NOT meant to be recommendations..

Comments

I have used the Point & Figure chart to calculate "likely" targets. It is mentioned in the above text. The chart is also attached in the link above. Pls check.
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Parasuram techtrail
@techtrail, sorry ! saw it bit late.. thanks
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Parasuram techtrail
@techtrail, also wanted to check .. is it 695 or 686 a break out level??
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what will be the break out like target. is it still 1x of the range or more?
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