ES­CORTS

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I have suf­fered a huge loss in Es­corts. Can I av­er­age now to re­duce the losses?

- Sameer Sa­manta

AVOID ES­CORTS FOR NOW AND EN­TER ABOVE RS 705 LEVEL

Es­corts is cur­rently trad­ing at Rs 647.20. Its 52-week high/low stand at Rs 1018.50/Rs 616 made on May 2, 2018 and Septem­ber 26, 2017, re­spec­tively. The stock wit­nessed lower tops and slightly sim­i­lar bot­toms af­ter hit­ting 52-week high. There­after, it gave a mul­ti­ple point up­ward slop­ing trend­line break­down at Rs 846 and gave al­most con­tin­u­ous down­fall with ris­ing vol­umes where the stock hit be­low its ma­jor sup­port at Rs 645 and Rs 633 lev­els. The os­cil­la­tors are in the over­sold zone but yet to con­firm the re­ver­sal. On the weekly time frame also, the stock has breached its 100-pe­riod EMA at Rs 691. We sug­gest you to avoid for now and en­ter above Rs 705.

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