Buy Escorts, says Nooresh Mirani

Buy Escorts, says Nooresh Mirani, AVP Technical, AMSEC Research.

Mirani told CNBC-TV18, "Escorts has seen huge correction, recently it has dropped from Rs 140-150 levels to a low of Rs 64. In the last two weeks it has made a couple of bottoms around Rs 63-64 levels. The recent high of Rs 73 was crossed yesterday with good volumes."
He further added, "The price action suggests the stock may move up sharply towards 80 to 90. As the stock has corrected from a high of Rs 240 plus in November, we expect counter trend rally to even go up till Rs 90. One can buy the stock for an intraday target of Rs 75.50 and stop loss of Rs 70."