Probable Reversal of Intermediate Trend of ESCORTS(NSE)
ESCORTS
The specifics are mentioned in the chart itself.
- Price of Escorts has been in a Sideways Pattern(Broadening Formation) since May.
- Since June, it has entered into a Head and Shoulders Bottom.
- On Aug 10, the H&S Bottom pattern was broken and was tested multiple times for the next 2 days(clearly visible in 1H timeframe chart).
- This validates the theory that there is high probability for the price to exit consolidation and begin an Uptrend.