Market Trading Guide: SBI, Escorts among 5 stock recommendations for Tuesday – Stock Ideas

An impulsive move in the security was followed by a retracement, forming a falling wedge pattern. The decreasing volume during this retracement suggests a potential opportunity to enter the market after a breakout. A breakout on the upside, accompanied by a surge in volume, signifies a continuation of the uptrend in the security.

The Relative Strength Index (RSI) is trending upwards, indicating strength in the security’s price action. Additionally, a breakout of the falling trend line in the RSI further confirms the bullish momentum.

(Kunal Kamble, Sr. Technical Analyst, Bonanza Portfolio)