TATA ELXSI: Have drawn trendlines on the chart for your refe
TATA ELXSI: Late update as I was busy with work. Have draw trendline on the chart for your reference Resistances are in Red and Support in Green. Try trading within these zones. Buy between 5870 to 5890. Please trade with SL. Trail stop. Remember position sizing. Always respect Risk. I don't generally have targets aI keep pyramiding the position on the way up and start selling into the strength. If I have to quote a target I see INR 10980/- as a medium to long-term target. Happy trading folks!!
Disclaimer: This idea is posted for educational purposes only. I'm not a SEBI registered advisor. Please consult your certified financial advisor before trading/ investing.
“If you can’t take a small loss, sooner or later you will take the mother of all losses.”
- Ed Seykota
** Apologies for not being active on the platform, I was busy with work. This is a late update on TATA ELXSI. I have been trading in this counter since last October (2021) and kept booking partial positions now and then. Disclaimer: I still hold some position on this counter.
Disclaimer: This idea is posted for educational purposes only. I'm not a SEBI registered advisor. Please consult your certified financial advisor before trading/ investing.
“If you can’t take a small loss, sooner or later you will take the mother of all losses.”
- Ed Seykota
** Apologies for not being active on the platform, I was busy with work. This is a late update on TATA ELXSI. I have been trading in this counter since last October (2021) and kept booking partial positions now and then. Disclaimer: I still hold some position on this counter.
Comment:
Please ignore the following levels from the above text "Buy between 5870 to 5890", somehow this text was copied from my previous idea for the 'INFO EDGE (Naukri)' idea that I published on this platform on 25th August 2021.
Comment:
Trade Analysis: The previous 'Resistance' (7830.70) line plotted on the chart is now acting as 'Support' (the price is respecting the line) so far in the last 10 trading sessions. The candle's range and volatility are contracting near the resistance (now acting as support) line which is a good sign. Will have to see if the price bounces from this line to the next resistance line (9066.20) or breaches the resistance (now acting as support) line. Place bets accordingly🙂
Comment:
in continuation of the above post, the price has breached the line (previous resistance now support line) on 6th May, however, taken back the line in one single candle (14.56%) as closed on 13th May, Friday session which is a display of strength in the counter, a great sign. Keep at it folks🙂