Escorts may test Rs 140: Abhijit Paul

Abhijit Paul of Alphative Advisors is of the view that Escorts may head higher and test Rs 140.

Abhijit Paul of Alphative Advisors told CNBC-TV18, " Escorts is inching towards the breakout for sure, I would like to see the stock sustain and close above Rs 125 mark. It has been a multi-week range for the stock and it just managed to breakout. Cash market volumes in the last 6-7 days had been fairly all right. So, it needs to stay above that Rs 125 mark at least for a day or I would like to see the weekly close above that price."

"It has a chance to extend further up towards Rs 140 and for a trade like that one should use a stoploss close to Rs 115," he added.

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