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Escorts looking weak and expected to touch bottom of possible triangle ,Can sell AT CMP with SL 617 and Target zone 585-590
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Wait for entry setup, if available then Long/short.
R:R is 4
5 to 8 times.
stop loss 545
can come back to test 520-530 , then short .
if breach 490 can slide towards
1st target 412
2nd target 388
Disclaimer: All posts/views are for educational purpose only..!!
Kindly contact financial advisor before taking position/decision.
Escorts is trading below strong support of 545. It's 200 EMA is also around 545. Formed a small range just below support, which has now become resistance for it. Buyers are active in this region as the delivery percentage is quite high. Deliverable quantity is above average.
Descending triangle is usually a continuous pattern. If it breaks triangle's baseline...
NSE:ESCORTS
As per 5 Year chart view, Escorts is in downtrend for past 1 year. I expect Escorts will continue its downtrend for long. I have mentioned resistance line in chart and Target 1 will be @ 500 zone. Once it Break next target 2 will be announced soon.
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