Escorts Ltd - Triangle Breakout - Long

Hi Guys,

Please find the detailed analysis of my view in Escorts Ltd

Time Frame of Chart - Daily
Current Trend: Bearish
Trend Reversal Pattern found in Candle Stick: No
Volume Support the Reversal based on Candle Stick : NA
Whether EMA50 Cross EMA200? Cross
ATR Volatility? Down
Chart Pattern: Triangle
Build Up happened before /after the breakout of the Chart Pattern? No
Breakout Happened? Yes
Breakout Happened with god volume in Chart Pattern? Yes
Post Breakout Next Candle in-line with breakout candle? No
Retest Happened? Yes
CPR? - Bullish Bias
Previous Virgin CPR is there? NO
Whether Breakout happened near the CPR? Yes

Support: 1115
Resistance: 1221.50 & 1316.70

Trading:

Buy : Above 1208
SL - 1149.45 ( Closes Above Daily in TF)
Target - 1327.60
Risk: 59.40
Reward: 118.75
Ratio: 1:2

Regards,
Thenali Views.
Disclaimer: Kindly do your own analysis before executing the trade or contact
your financial advisor.