After a good recovery from the lows of 822 to 900, seems like the downtrend in Escorts NSE:ESCORTS may not be over yet.
The Auto index NSE:CNXAUTO appeared extremely Bearish today forming an Evening Star pattern.
I can see that Escorts has formed an Evening Star like pattern as well and has reversed in the 50%-61.8% retracement zone of the previous downmove.
Looks like the stock is heading back to 836 levels.
Good opportunity to sell calls here with stop loss at 900.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.