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.
Disclaimer: The author is a Senior Research Analyst, SMC Global Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
