Can I enter Escorts at the moment?
BUY ESCORTS ABOVE RS 677
Escorts is currently trading at Rs.665. Its 52-week high/low stand at Rs 767.70/Rs 270 made on June 6, 2017 and November 22, 2016, respectively. After hitting its 52-week high, which is also its all-time high level, the stock has witnessed a correction making lower tops. However, the stock has formed a downward sloping trend line which has a breakout near Rs 675-677 levels. Rise in volumes and the 14-period RSI surging to 60 from current 55 can give some momentum to the stock. On a weekly basis, the stock is seen trading in consolidation. Hence, we suggest you to wait and enter the stock only after it crosses Rs 677 level.