ashishjain26
Long

UpSwing to kick-off in Tata-Elxsi

BSE:TATAELXSI   TATA ELXSI LTD.
BSE:TATAELXSI
Recommendation--> Buy: 1490 - Sell: 1535, 1560, 1600 - StopLoss: 1470

  • RSI is near 50 which will cross the 60,70 and 80 levels in 3,7 and 10 trading days
  • Trading sideways in the range of 4.25% (1411 - 1470 - 1530) for 3 months.
  • On Balance Volume constantly increasing which means accumulation is happening before next breakout.
  • Currently at the price levels of 'GoldenCross' which was formed on Jan 27, 2017 (2 months back)
  • Boolinger Bands squeezing with a very high possibility of a breakout above upper band.
.
Trade active: First 2 targets achieved with-in 3 trading days. Returns of 5% in 3trading days.

Hold for target of 1700 in a month !
Trade closed: target reached: Stock was recommended at the price of 745 (Split-adjusted)
- touched 795 on 25-April (Split adjusted) Return - 6.5%
- touched 850 on 10-July (Split adjusted) Return - 14%
- touched 911 on 14-Sept (Split adjusted) Return - 22%
First 2 targets will be met this week only. It will cross the RSI of 60 and 70 in order to do so !!

This share is good for both long and short term.
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