Escorts had been a laggard for many months but this stock has again arrived near important juncture. So, what is the technical picture suggesting? The below research gives the bigger term trend for the stock.
The below research is picked up from “The Financial waves short term update”
Escorts Daily Chart:
Elliott Wave analysis: Following is picked up from morning Equity research report
In the previous session Nifty Auto closed on a positive note and the same was reflected on Escorts as it closed 1.44% positive.
As shown on the daily chart, the prices are quoting at the channel support & in the previous instances the prices have bounced back from the support hence we are expecting the same to occur in the upcoming sessions. We can see that the Ending Diagonal pattern is under formation and currently wave a of (v) is ongoing.
As shown on hourly chart, (shown in daily research report)
In short, Escorts is at crucial juncture. A break on the upside beyond ….. levels is expected to take the prices higher towards …… levels …….
On the above chart can you see brilliant application of channels, Elliott wave counts, Time cycles and much more. Get the detailed analysis on stocks along with Nifty, Bank Nifty in the daily equity research report – The Financial wave short term update. Subscribe here
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