Tata Elxsi - Bullish Stock at strong support area
Risk reward excellent
Expect 5 figures soon
Self explanatory chart
Tataelexi
TATA ELXSIPast one year it was trading in the box now going to break that box and you can see the points marked for trading.
Only for education purpose. Investments in stock market is subjected to market risk do own researches before investing.
Technical Analysis: Tata Elxsi Breakout📈 INTRODUCTION 🚀
In this technical analysis, we'll explore the breakout in Tata Elxsi's price. Please note that this analysis is for educational purposes only, and I am not a SEBI registered analyst. Let's dive into the details!
📊 KEY DETAILS 🚀
🔹 Tata Elxsi's price has been facing resistance since October 2022.
🔹 The resistance supply zone was around 7445 to 7157.
🔹 On the other hand, the price found support at the monthly demand zone.
🔹 The breakout occurred with good volume, indicating strong momentum.
🔹 Before the breakout, the price halted near the resistance, which is a positive sign.
📈 TRADE SETUP 🚀
Based on the analysis, here's a potential trade setup:
🔹 Entry: Current Market Price (CMP) of 7508
🔹 Stop Loss: Below Friday's low, around 7198 with buffer
🔹 Target: Around 8307, just below the daily and weekly supply zone
🔹 Risk-to-Reward: 1:2.5, which is a favourable ratio
📚 EDUCATIONAL INSIGHTS 🚀
Before we conclude, let's define some technical terms for new traders:
🔹 Resistance : A price level where selling pressure exceeds buying pressure, causing the price to pause or reverse.
🔹 Support : A price level where buying pressure exceeds selling pressure, causing the price to pause or reverse.
🔹 Breakout : When the price moves above a significant resistance level or below a significant support level, often accompanied by increased volume.
🔹 Supply Zone : An area where sellers are likely to be present in large numbers, causing the price to struggle to rise further.
🔹 Demand Zone : An area where buyers are likely to be present in large numbers, causing the price to find support and potentially reverse.
Remember, it's essential to continue learning and understanding these concepts to become a skilled trader.
🙌 CONCLUSION 🚀
In conclusion, Tata Elxsi has experienced a breakout from its long-standing resistance. Based on the analysis, a potential trade setup has been identified. As always, do your own research and exercise caution while trading.
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#TataElxsi Reversal on card after 46% correction from peak#TataElxsi achieved an all time high price of 10760 in Aug 2022 and after that corrected to 5700 in Dec 2022. Almost 47% correction from the peak price.
Technically the price has smartly reversed from the demand zone and today closed at 6655 almost 955 point up from the low.
Very strong midcap IT company and perfect time to add to the portfolio with stooploss of 5600. One can expect again the ATH in coming months.
For IT companies has already seen the worst as US and Europe are facing recession but one fact is also that IT is the backbone for cost correction of any company's woriking.
Till now low volume which may be due to silent accumulation by strong hands.
Tata Elxsi - Short OpportunityShort Opportunity -
Tata Elxsi has formed Inverted Cup & Handle pattern, which indicates the bearish movement will come soon. The neckline of this pattern of Rs. 6550.40 is strong support for the previous days. The CPR is narrow and at the downside, which means a strong bearish movement is expected. The CCI is near the -100 level and MA is headed to the downside. So, we can go for short if this stock retests at the neckline.
Tata Elxsi - Short OpportunityShort Opportunity Expected -
Tata Elxsi is in a sideways zone. there was no such movement given in this stock on the previous trading day. But the narrow CPR is indicating the movement is expected in this stock. If the first candle closes below 6926.70 then there will be a bearish movement (high chances on bearish) as the VWAP has crossed the MA. But we have to wait till the CCI enters the -100 level.
TATA Elexi Triangle FormationTATA Elxsi Triangle Formation is almost complet you can buy this share at present level this stop loss is 20 MA.
And target is the previous high.
For Long term you can buy this level, company Fundamental good, and Future is Bright.
Tataelxsi weekly bullish flag formation for longtermTataelxsi weekly bullish flag formation for investors
Strong fundamentals for positional long term with tp of 3366-3699-4064
can average on correction for long term
Kindly support us by giving likes so we can profitable setup for you thank you
Disclaimer: Only for educational and learning purposes.
Tata Elxsi - Bullish Hammer post pullbackNote: This is for educational purpose only.
As per the price action, there seems to be a dynamic support at 21 EMA. Post pullback, there seems to be a bullish hammer formation at 21 EMA.
Expecting price to bounce back.
NICE BREAKOUT AND SUSTAININGA nice breakout occurred here in #tataelexsi with strong RSI. stop loss could be 1230. To be bot above 1320. above means above 1320 . my view only may be 100% wrong
TATA ELEXI GOOD STOCK TO ADD IN PORTFOLIO WHEN CROSS KEY LEVEL
Add this stock to your portfolio when comes below the key level mentioned on the chart.
Even though the volume is giving sign of short end but key break on daily chart of major trend gives an indication and opportunity to add
