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Weeklychart

Escorts Weekly ChartNSE:ESCORTS As We can see Escorts had a Top around 750-770 levels where it formed a Bearish Engulfing Pattern(Marked Area). Now at the same Area It made a Reversal Candlestick Pattern called Shooting Star(Marked Area) with Volumes above Average. That Pattern is also called "Falling of the Roof(Steve Nison)" which touches targets in fast momentum. Risk:Reward looks favorable. So Entry Should be taken below Shooting Star Candle's Low with a close above it as Stoploss and Recent Low as Target. See chart for better understanding. Sell Below 720-718 Area With SL of 790 (Closing Basis) and Target of 610-630 Area
NSE:ESCORTSShort
by abhishek72457