Last month , Escorts made a head and shoulders pattern and broke below the neckline and tested the support level , had shared idea for short that time.
Now it has made an inverted H & S and broke the neckline today and might pullback to neckline next week , can go long after pullback or at CMP as long as it stays above 760.
Targets would be 800 and 820 respectively .
1. If 630 breaks, expect a move to 610-615.
2. If it manages to push above 650, expecting it to reach 680(0.5 Fib level) and above.
3. EMA(26)- 674
4. EMA(50)- 683
Trade as per the marked swing points, trend line and Fibonacci level.
Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters.
Buy Escorts on a dip with a SL of 599 and potential targets of 628 and 648.
Adjust trading volumes as per entry price.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully...
I thank all the users of the trading view for the comments on my previous post on Escorts. (link posted below).
it was an over whelming response and i was very pleased to hear from everyone
Thanks once again for spending your valuable time and pondering over the wave patterns
In fact i am a novice in wave labeling , and i understand there can be multiple views...