Escorts Ltd.- A possible breakout in play

682 (the orange line has proven to be a very strong resistance in the past). We closed above this and the overhead resistance at 691 levels in the past, but couldn't sustain it and closed at the orange line today, which held pretty well, signalling that it is a possible support area now.

If we bounce from here and break the overhead resistance then we could be in for a breakout. If we breakdown from this line this would become a strong resistance again. A break above 691 would be ideal for a intraday long positions. Positional Traders can take a position at supports below with tight stop losses.

This has been forming higher highs and higher lows, so I am expecting an upward movement from here.

This isn't a financial advice

Dagangan aktif:

we witnessed a close above the resistance today. Could be headed to our next resistance tomorrow.