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ESCORTS

Escorts : and we are in bull market :-)Escorts has formed bullish engulfing pattern on daily chart. CCI has crossed above -100 line. 540 has been a major support zone from where it has bounced twice. If you go for bigger picture then you will find Head & shoulder pattern + descending triangle pattern. Both are bearish in nature. Confirmation will be on weekly and monthly close below 540 ( safety margin -3 % from 540) . If closes below 540 then target will be 130 (vertical height of head) and stop loss will be 650 on weekly closing basis. What now ? Buy on daily close above 570 with stop loss below 540 for target 650.
NSE:ESCORTSLong
by UnknownUnicorn4260559
2
Automobile Sector - Leading and Outperforming Companies (3)As per the Auto Index chart, it is consolidating in a downward diagonal channel, but there are companies in auto sector, (industrywise) which may outperform due to their strong fundamentals. In Automobile Sector - Leading Companies Industrywise 1. AshokLeyland (Commercial Vehicle) 2. Jamna Auto/Automotive Axles (Auto Ancillaries) 3. VSTTractors/ Escorts (Tractors) 4. Maruti (Cars) 5. Eicher Motors /Hero Motorcorp (Motorcycles) They above listed have consistent profits, good growth and almost no debt.
NSE:CNXAUTO
by NeeteshJain
4
How to Identify Powerful Support / Resistance ??Whenever you see a higher time frame chart you should ask 2 questions - - 1) What trend is the market in ?? 2)where are major levels of structure that you should be paying attention to - in that direction ? SO in the chart i have shown above the answers are following 1) Trend is bearish 2) Major levels of support and resistance are drawn in Horizontal blue lines How did i draw blue Horizontal blue lines ?? Those blue horizontal lines are levels of support / reistance which has been tested atleast 3 times So i shall now proceed to tell you the story of Escorts as per the numbering i have done on the chart 1)Escorts made a high on 22 nd march making a high of 834 -( which is never broken till now ) 2)Escorts made a low of 782 on 25 th march 3)Escots made a lower high on 27th March making a high of 826 (thus making a new trend setter) 4)Escorts made a lower low on 8th April - 752 (Thus making it a trend continuation & the Down Trend is confirmed ) 5)Escorts made a lower high on 16 th April - 801 6)Escorts made a lower low on 16th May 2019 falling dramatically to a previous support level - 542 7)Escorts made a lower high on 21st May 2019 - 614 So Now what is Next in Escorts ??? Again ask the same questions which i said in the beginning & you will get the following answers 1) Trend is Down 2) Horizontal blue lines are areas of Support and resistance So unless you do not get a daily close above 614 (which is an area of resistance) - do not attempt to go long. If you are short - keep stop loss at 614 Your target should be level of previous support - which is 514 (100 points) Presently Escorts is trading @ 594 - sl for shorts is @ 614 (On daily closing basis)
NSE:ESCORTSEducation
by MAYA_MUMBAI
23