 "The stock of Escorts has bottomed out near the trendline support zone of 1,230 levels")
BUY BHARAT FORGE | CMP: Rs 538.10 | TARGET: Rs 585-590 | STOP LOSS: Rs 505
The stock has witnessed a short correction from 565 levels and has bottomed out near 505-510 levels, forming a good base. It is currently indicating a momentum pick up to improve the bias with a trend reversal. The RSI also has shown a trend reversal to signal a buy and has got strength to carry on the momentum in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 585-590, keeping the stop loss near Rs 505 levels.
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