TATAELXSI trade ideas
[Intraday] TATAELXSI Inside Bar TradeInside Bar
Long above 883.35, SL PDL
Short below 866.40, SL PDH
If gap up or down, follow 5m ORB.
Descending Triangle Breakout - Bearish Continuation PatternTATAELXSI SHORT AT 912 with a Stop-loss of 967 for The Target at 744
Risk 6% & Reward 18.43%
Risk Reward Ratio 1: 3.05
Bearish Continuation Pattern
Descending Triangles
In this “flat-bottom” triangle, the bottom trendline is horizontal and the top trendline 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 support level.
But if it's going to break the support with strong downward momentum and higher volume 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.
TATA ELXSI - Weekly ChartLooks like a formation of H & S pattern, currently in Neck line support of around 924. Need to wait for confirmation whether the pattern formation holds true or not.
Tata elxsi short trade setupTata elxsi is setting up for a short trade setup in coming days.
Targets, once Elxi breaks out from bearish pennant will give you an opportunity to open a sell trade.
longTATA elxsi again testing its support level of 955-950. The Q3 results shows 62.77 Cr. PAT against expectations of 55 Cr. which is good in numbers. Although IT sector is under little pressure one could look for buy tata elxsi keeping stoploss of 955 on closing basis.
lowering wedge Stock selected as the overall NIFTYIT looks bearish on daily time frame.
The stock is forming a lowering wedge pattern.
IF lower trend line is broken
Then Stock will move towards target 1 NSE:TATAELXSI
Long on drop reversalNow You guys dont tell me i have not Given detail on live chart on identifying Contracting triangle in the Middle of B wave ,
this one is compressing for Next leg up move , contracting triangle are very nasty they brake either way , so wait for daily reversal dont jump
all you have to do is wait for Reversal on daily and buy on brake of daily high or EOD (confirmation of bullish candle before market close )
This i am posting because some one was asking me he has stuck near 1100 , ( You can look to exit in profits buddy )
#TATAEXLSI CASH : LOOKS GOOD ABOVE 1035.50#TATAELXSI CASH
01 JAN 2018
LOOKS GOOD ABOVE 1035.50
STOPLOSS 1023
TARGET 1044.0-1045/1055
CMP 1024
risk reward not favourable! not conclusivecan slide till 955 and also move up till 1115, risk risk reward not favourable at all!
