Technical Calls: Buy Escorts and Motherson Sumi Systems
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The stock closed at Rs371.30 on 27th January 2017. It made a 52-week low at 112.80 on 12TH February 2016 and a 52-week high of 414.40 on 04TH October 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 288.87.
It made its 52 week high of 414 levels and fell slightly, which could be seen as profit booking in this particular scrip. Again, it made fresh buying pivot near 280 levels and then never turned back, which shows its potential to remain upwards in the near term. Therefore, one can buy above 373 levels for the upside target of 395-405 levels with SLbelow 362.
Motherson Sumi Systems:
The stock closed at 344.35 on 27th January 2017. It made a 52-week low at 205.90 on 25th February 2016 and a 52-week high of 358.65 on 02nd August 2016. The 200 days Exponential Moving Average (EMA) of the stock on the daily chart is currently at 308.36.
It has formed Inverted head and shoulder on daily charts, which is bullish in nature. Therefore, one can buy in the range of 340-344 levels for the upside target of 360-365 levels with SLbelow 329.
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Unmesh Deshmukh, Founder - Bonvista Financial Planners
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