Tejas networks is a loss making multibagger company which has been consolidating since few months.
If stock breaks 800, a support reversal can be confirmed and new ATH can be expected in stock.
The stock is a multibagger stock which can repeat its performance if market is bullish.
Only Risky traders should keep this in watchlist
There is no introduction needed for this script. The very long run is due and recent low can act as an immediate support. Rising channel with blockbuster volume is significant for upmove. RSI crossover on weekly TF also indicating to move towards ATH.
CMP : 811
Taregt 940/1040/1260++
Kindly note that I am not a SEBI registered analyst. Perform your own analysis...
Tejas Networks Ltd. looks good for a short/medium term trade basis price action.
Good support along the trendline and weekly closing above the 40MA.
Price might see some tightness in the range between 640-679. Wait for price to close above 679. However, can see good momentum above 680 with initial target of 716. Based on further price action will need to...
Stock Name - Tejas Networks
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 744
#This is not Buy and Sell recommendation to any one. This is for education...
Tejas Networks made a post crash weekly closing high of 218.7 in the week ended 15th February 2021. Since then, the stock has been trading in a tight range between 160-200. The stock finally broke out of its range this week with a weekly close above 200 - the highest weekly close in 4+ months.
One can buy...
As we see cup and handle pattern in TEJAS NETWORK ,we can expect price to move towards 220 a minor hurdle to 250 major hurdle. A return of 10 -25% with in 3-6 month
TEJAS NETWORK is ready for forming CUP & HANDLE PATTERN .
Buy Above 180 level
targets 220
Note this is my analysis only for educational purposes, feel free to give your opinion on my review.
A beautiful cup & handle pattern is going to be made in TEJAS NETWORK
If it takes a weekly break out then my targets are near 400
Note that this analysis is only for educational purposes, feel free to share your review on my analysis
