Weekly View of Escorts
The stock is trading on uptrend
on weekly time frame. The MACD has also crossed the signal line and is moving
above it which shows that the stock will go on upside. The parabolic SAR is
also indicating that the dots are below the price level which indicates that
the upward movement of stock. Buy Escorts above 976 with the target around 998-1015
and the stop loss at 960.In the past two weeks, Escorts has been
stuck in a sideways phase. The decline seems to be getting arrested around the
21-DEMA which has acted as a strong support zone in the recent past. After
forming a Doji candlestick it witnessed impressive follow-up buying and is now
on the verge of a declining channel pattern breakout.
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