1. Buy above BO 1195
2. TARGET 1270/1380/1460
3. SL 1080
1. Breakout happened on descending channel
2. Trend reversal started at harmonic PRZ and support level. Now It is in accumulation phase.
3. Next would be uptrend if it breaks the accumulation zone.
Disclaimer: This is educational purpose only.
Please share your thoughts in the comments...
Long- above 1567 , 1567 is a strong resistance , if it reverse from this level then it may reach to 1546,
crossing above 1580 may push it to the level of 1613 which above our target.
Short - below 1547, which is a strong support, if it takes support above it the it may reach to the level of
1580, below 1547 all targets are quite achievable.
Escorts on weekly time frame is forming a bearish flag and pole pattern.
Its trading in a parallel channel and has closed near its 200 DMA.
The stock can be a nice trade in this series.
Support :- 1572, 1543
Resistance :- 1651, 1700
Wait for the price action to form near the resistance and trade the parallel channel breakout.
#NSE:M_M formed Bullish rectangle, Safe players may check post breakout zone,
and experienced/risky players may check support zones for entry points.
All the levels marked for practice only.
Complete April month performance shared for our friends, check out my signature for details.
Happy LEarning !!
Escorts spot cmp 1225
Time Frame :- Daily
Study :- Elliot wave
good formation seen in this counter,, on verge to give breakout,, confirmation of price action move is pending,, once breakout confirm,, counter would move on to complete its impulse phase,,
Good bullish candidate
Buy - Above 1235
SL - 1180
Target - 1280 1350
Note:- I am not SEBI registered . All Views and trade setups are my personal view and my personal trade setup.
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Also check the below related ideas for other stocks.
Escorts broke the Triangle and stuck in a small range of 100 points.
Short terms traders and scalpers can use this small range as support and resistance levels with strict SL.
Positional players can buy near the strong support zone and wait for the Range breakout above 1120. Or enter above 1120 for 60 points minimum target.
As Indian market is bullish, its better...