Stock Analysis of Escorts Limited
Price - 1176.20 Dt. - 19.05.2021
Since Feb 2nd week the stock is in the bearish zone and lost 300 points in this time period. From 3rd May stock reversed the trend resumed the up move. The stock was near the overbought zone. Further with good monsoon expectation and declining covid-19 cases are another reason for Escorts Limited to move upward. Stock is facing strong resistance at 1185 levels but with ascending triangle formation we are expecting the stock to break the level.
Stock is slightly above 21 DEMA.
Since Feb 2nd week the stock is in the bearish zone and lost 300 points in this time period. From 3rd May stock reversed the trend resumed the up move. The stock was near the overbought zone. Further with good monsoon expectation and declining covid-19 cases are another reason for Escorts Limited to move upward. Stock is facing strong resistance at 1185 levels but with ascending triangle formation we are expecting the stock to break the level.
Stock is slightly above 21 DEMA.
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