{"id":4974,"date":"2014-04-02T10:23:43","date_gmt":"2014-04-02T04:53:43","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=4974"},"modified":"2019-06-06T19:31:56","modified_gmt":"2019-06-06T14:01:56","slug":"escorts-next-leg-of-uptrend-underway","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/escorts-next-leg-of-uptrend-underway\/4974","title":{"rendered":"Escorts: Next Leg of Uptrend Underway"},"content":{"rendered":"<p>After a sharp rally, the share price of Escorts has been in a corrective phase since December 26. The price action in the past few days suggests that this downward corretion is complete and the next leg of uptrend is underway. As highlighted in the below weekly chart, the recent correction has been arrested right at the open gap formed in November.<\/p>\n<a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2014\/04\/Escorts.png\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-4975\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2014\/04\/Escorts.png\" alt=\"Escorts\" width=\"1307\" height=\"597\" srcset=\"https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2014\/04\/Escorts.png 1307w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2014\/04\/Escorts-300x137.png 300w, https:\/\/fundsindia.com\/blog\/wp-content\/uploads\/2014\/04\/Escorts-1024x467.png 1024w\" sizes=\"(max-width: 1307px) 100vw, 1307px\" \/><\/a>\n<p>We expect the stock to rally to the immediate resistance at Rs.137-140 range. A breakout past Rs.140 would lend momentum to the uptrend and the stock could then rise to the major resistance at Rs.150. We would maintain the positive view as long as the stock trades above the key support at Rs.110. For traders, having a stop loss at Rs.115 would not be such a bad idea.<\/p>\n<p><em>(The view featured here is based on Technical Analysis of historical stock price action. Please read the <a href=\"https:\/\/www.fundsindia.com\/blog\/disclaimer\">Disclaimer<\/a>)<\/em><\/p>\n<div class=\"blog-highlight\" style=\"clear: both;\"><a style=\"color: #000; text-decoration: underline; font-weight: bold;\" href=\"http:\/\/www.fundsindia.com\/content\/jsp\/LP\/equity\/equities3.do?ref=blog-button\" target=\"_blank\" rel=\"noopener\">Invest with<\/a><span style=\"color: #ff0000; font-weight: bold;\"> FundsIndia Equity Account<\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>After a sharp rally, the share price of Escorts has been in a corrective phase since December 26. The price action in the past few days suggests that this downward corretion is complete and the next leg of uptrend is underway. As highlighted in the below weekly chart, the recent correction has been arrested right [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[156,157],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Escorts: Next Leg of Uptrend Underway<\/title>\n<meta name=\"description\" content=\"After a nice correction, Escorts seems set to resume the next leg of the rally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundsindia.com\/blog\/equities\/escorts-next-leg-of-uptrend-underway\/4974\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Escorts: Next 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