Trend Reversal Tata Elxsi

May 25, 2023

Hi friend as you can see on this daily chart of Tata Elxsi that after making all time highs of 10700 levels it came down 5900 levels and now showing some signs of reversals like price is trading above a resistance (LH) and now breached a consolidation of 12 daily candles and gives a close above on that so now from here it is looking good for the targets of 8000 and 8300 levels for this 6800 levels is looking a good support zones on daily closing basis.


MOVING AVERAGES-: (EMA)
Daily Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Weekly Chart- Price Trading Above 20, 50, 100, 200 Moving Average.
Monthly Chart- Price Trading Above 20, 50, 100, 200 Moving Average.



RSI-:
Daily Chart- 70.53 (Bullish)
Weekly Chart- 60.67 (Bullish not Overheated)
Monthly Chart- 58.30 (Neutral with Bullish Divergence)
Volume Supported Breakout



Key Strengths-:
Higher Highs and Higher Lows.
Price trading above on all moving averages on Daily, weekly and monthly time frames.
Daily and weekly RSI are Bullish.


(Breakout Retest Zone-: 7200-7100)



KINDLY NOTE-: This is not and trade or investment advice. This idea is meant for learning. Invest your capital at your own risk.




Regards-: Amit (AR)

May 26, 2023

Note

SUPER MOVE, BULLISH

Jun 1, 2023

Note

UPDATING STOP LOSS TO COST 7261.
PRICE REACHED 7650 FROM 7261 SO NOW MOVING STOP LOSS TO COST ENTRY PRICE, THANKS

Jun 8, 2023

Note

TODAY REACHED 7947 FROM 7267 VERY CLOSE TO TARGET ONE GAINED ALMOST 10% FROM ENTRY

Dec 12, 2023

Trade closed: target reached

Both buy targets complete reached 8900 from 7262, Updating late because after reaching above resistance based target two price sustaining above very well and was waiting for a extra move after a breakout of consolidation above resistance target two. Although it is a fresh breakout but i am closing this publication and will publish a new idea on it gained 23% so far, Thanks for reading and giving your support to my idea mates. Cheers !!