Escorts Weekly Chart

As We can see Escorts had a Top around 750-770 levels where it formed a Bearish Engulfing Pattern(Marked Area).
Now at the same Area It made a Reversal Candlestick Pattern called Shooting Star (Marked Area) with Volumes above Average.
That Pattern is also called "Falling of the Roof(Steve Nison)" which touches targets in fast momentum.
Risk:Reward looks favorable.
So Entry Should be taken below Shooting Star Candle's Low with a close above it as Stoploss and Recent Low as Target.
See chart for better understanding.
Sell Below 720-718 Area With SL of 790 (Closing Basis) and Target of 610-630 Area
Feb 01
Comment: Target Almost achieved. couldn't update trade idea.


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