Escorts: Double Bottom Formation on Support Line
Updated
Escorts have given a tremendous result and monthly sales on YOY has also grown up.
This stock has recently formed a doubt bottom pattern on its support zone of 1180-1200 levels. The stock has given a breakout on the hourly timeframe and have gone past 1400 but could not close because of the resistance at 1420 levels.
All levels are mentioned on chart along with the SL.
DISC: This is not a buy or sell recommendation. Please consult your advisor before taking any financial risk.
This stock has recently formed a doubt bottom pattern on its support zone of 1180-1200 levels. The stock has given a breakout on the hourly timeframe and have gone past 1400 but could not close because of the resistance at 1420 levels.
All levels are mentioned on chart along with the SL.
DISC: This is not a buy or sell recommendation. Please consult your advisor before taking any financial risk.
Note
Made a high of 1440 today. Now 1400 Levels should work as strong support. SL can be shifted to 1350 Levels.
Note
1440 Level is again tested today. Next time it will not work as resistance and we will get our first target of 1450.Waiting patiently to get the target. Then I will shift the SL to 1400 Levels.
Note
Target 1 Achieved. Book 50% quantity.
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