ESCORTS
ESCORTS BO-Retest-ContinuationESCORTS has seen multiple Support/Resistance cycles at 1180 zone where we saw this zone turning from support to resistance and to support once again. The stock broke out of this zone last week and has done a successful retest followed by a continuation of the price action. RSI is also in the bullish territory which is a good sign. We are bullish on the stock for 1320/1450 Fibonacci zones as targets.
ESCORTS VIEW AND LEVELSNSE:ESCORTS
Downtrendline break in daily chart.
When it hit the down trendline there was series of red candles in 1hr chart but the volume was diminishing on successive candles.
11th june candle opens with gap up and closed by breaking downtrendline(shows good buying momentum).
on 1hr chart it is retest after the trendline breakout and on 15min chart it has formed HH Hl after taking support after trendline support.
I am watching this stock for coming days.
Entry 5min close above 1225
SL 1208(positional)
1214(intraday tomorrow)
Safe players can enter above 1234 where I expect huge momentum to the upside is possible.
Long Escorts
Escorts
CMP - 1204
Stop - 1100 on DCB
Expectation -
T1 - 1380
T2 - Review at 1380
Expected Holding Period - 40 trading days or earlier for T1
View:- Swing
Disclaimer:-
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
ESCORTS - Triangle Breakout ( June Series)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 to Buy, as long as the price stays above the strong support zone.
Execute short below 1080 for a free fall of 100 points minimum.
Please share your valuable feedback.
Disclaimer: Kindly do your own analysis or consult your advisor before taking any trade. This view is for educational purposes only.