Risk 6% & Reward 18.43%
Risk Reward Ratio 1: 3.05
In this “flat-bottom” triangle, the bottom is horizontal and the top slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower.
Level to Watch out is 885 because it's a 0.618% Retracement level of a Major Swing, Low at 510.60 and High at 1326.
If Tataelxsi consolidate around this level and losing it's momentum then it's a good chance to hold this .
But if it's going to break the support with strong downward momentum and higher then we may see lower levels in a sharp fall.
As per Chart Pattern Minimum Price Target is 18.40% lower form the cmp , so need to manage and trail stop-loss actively.
Trailing Stop-loss in TATAELXSI at 925 from 967.
Trailing Stop-loss as per Simple Text-book technical analysis which is very basic and everyone knows the same is explained in the image below.