Buy Escorts with target of Rs 135: Hemen Kapadia

Hemen Kapadia, Technical Analyst at chartpundit.com advised buying Escorts with a target of Rs 135.

Kapadia told CNBC-TV18, "Escorts is recovering after a 10 weeks decline. It has been posting lower tops lower bottoms on the weekly charts. Not only was it slightly oversold, there was just that hint of positive divergence that is getting manifested today. In fact Escorts has been given upward bar reversal on daily charts and because of the upward bar reversal, which has obviously been a volume upward bar reversal, we have seen the stock move well.