Upwards:
I think the traders need to wait in next trading session. The HDFC Bank is trading close to its second highest resistance. If it goes above 1075, its a strong buy call with clear breakout heading towards 1116. The next level to watch would be 1180 and 1256.
Entry price 1076, partial profits at 1116, and long positions can be broken at around 1180 and...
Strong rejection is seen from 189 level indicating resistance at the upper range of consolidation. Also the chart pattern under formation is Rectangle.
Rectangle is a continuation pattern so the positions can be initiated once price breaks and sustains above 189.
Target after breakout will be 204 and 216. Stoploss can be maintained below 162
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...
