Tata Elxsi is amongst the world’s leading providers of design and technology services across industries including Automotive, Media, Communications and Healthcare. Tata Elxsi provides integrated services from research and strategy, to electronics and mechanical design, software development, validation and deployment, and is supported by a network of...
TATA Elxsi forms the flag and pole pattern, the market is at a crossroads, presenting traders and investors with both opportunities and risks. A careful analysis of the breakout or breakdown, along with volume confirmation, will be crucial in making informed decisions. Remember, while technical patterns provide valuable insights, it's essential to consider other...
A breakout of an inverted Head and Shoulder pattern on the weekly chart of NSE:TATAELXSI has been retested. One can look the charts and take the tradi as per their risk apetite.
Exit the position if the stop loss is triggered on WCB.
DO YOU WANT ALL MY RESEARCH FOR FREE THEN DON'T FORGET TO FOLLOW ME and hit the small plane icon.
I AM EAGERLY WAITING FOR...
There's a potential movement upside to 9181 (21st june) --- 9333 (12th july)
It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
BUY - TATA ELXSI
CMP - Rs. 7817
Target - 1: Rs. 10500
Target - 2: Rs. 12370
Technicals - Bullish Triangle Pattern BO, supply demand zones.
NOTE: Target - 1 will be achieved within 6 months, Target - 2 will be achieved within 9-12 months.
This is just a view by an expert analyst, please invest at your own risk.
Follow me for more!
📈 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...
Trading Style- Positional
Strategy- Trendline Breakout + Daily Closing
Timeframe- Daily Chart
Buy Above Breakout Candle High
Stoploss Below Breakout Candle Low
Target Should be 1:2
Note: All the details are provided on the chart itself
Check updates regularly regarding this trade idea
Classic chart patterns, trend analysis, and the company's strong fundamentals ensure a breakout within a few hours or days. Stop-loss could be set 1-2 % below the trend line or consolidation zone. ps: NOT A TRADE ADVICE :)
NSE:TATAELXSI is a fundamentally good stock and has given tremendous returns in the last 2 years. The way it's been falling and no green candle in a streak of almost 20 days it can show 6k levels. From 6k levels it can show reversal because at this level it would be around 45% down from it's ATH.
After a big bull run it's time to cool off for some time, this stock on the weekly time frame broken and closed below the important support. Thus further it can slide till the previous swing low i.e. 6480. If any one holds long can exit near the bounce range 7600 - 7750.
Disclaimer : I am not SEBI registered, consult your FA before investing. Happy Trading!!
TATAELXSI is still weak and is below WMA(100) on Weekly chart. It clearly shows that it is still weak for a bullish move. If you are looking to hold it for long term, then its best to wait for it to either make a bottom or to break the WMA(100) upwards.