Breakeven Point: Rs 713
-- Long build-up is seen in the Escorts Futures’ where we have seen 14 per cent (Prov) rise in the Open Interest with price moving up by 7 per cent.
-- The stock price has given breakout on the daily chart by closing above the resistance level of 676
-- Primary trend of the stock is positive where the stock price is trading above its all important moving averages
-- RSI Oscillators has reached above the level of 50, indicating sustainability of the bullish trend
-- Auto, as a sector, looking good for the short-term
Disclaimer: Nandish Shah is a Technical & Derivative Analyst at HDFC securities. Views are personal.