Stock has been trading in a downtrend channel since July. Yesterday the upmove broke the channel along with volumes greater than 50 day's average. RSI is recovering from the oversold region.
Adding to the steam is announcement of better than expected growth results. Go long if sustains near Rs.125
Intraday Target- 127-130
Positional Target- 134
Yesbank fell from the trendline and 25ema resistance. Now trading near support. Could be a possible long.
Further QIP news also backs the idea
Target: i. 87
ii. 92
Stock is trading in between two important trend lines, the last candle was a doji. If Escorts breaks the trendline the downfall can go to Rs 470 in coming sessions.
Target for breakdown- 470
Target for breakout- 510
Yash G.
