Here in this weekly chart of Escorts , -
I have shown the
1) Support and the Resistance
2) Trend line resistance
Mac-d is currently on +ve side on weekly chart
Price is above 200 Sma and is pointing upwards
Price is at a support level on weekly chart
Critics are welcome to comment on the above chart !!
An attempt in wave analysis !
However since on larger time frame it is showing corrective pattern , it is advisable to go with the trend rather than taking a contra trade
ESCORTS MONTHLY CHART
Since the trend has broken downside , i guess Escorts has long way to go on the sell side
However i will consider buy on the bottom levels ,
wait for a year or so !!!
