Traders can accumulate the stock in a range of Rs 710-720 for the upside target of Rs 785 levels and a stop loss below Rs 660, says Shitij Gandhi of SMC Global Securities.
Shitij Gandhi
Escorts witnessed a V-shaped recovery from Rs 585 levels in the recent past to reclaim Rs 700 levels in a short span of time. However, after that prices seen consolidating in range of Rs 660-710 from last two weeks.
The stock witnessed a fresh breakout above its 100-days exponential moving average on the daily interval along with marginally higher volumes.
Traders can accumulate the stock in a range of Rs 710-720 for the upside target of Rs 785 levels and a stop loss below Rs 660.
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