TATAELXSI trade ideas
Tata elexi result day at key level.Today tataelexi result day trading at key level with the channel stay causes a breakout of the channel will active bears
Bearish Shark - TataElxsi - 4HrBearish Shark - TataElxsi - 4Hr
PRZ: 895-902
SL: 911.05
TGT: 886, 876
16-06-2019
TATAELEXI looking week is now 916/917 , will show target of 905TATAELEXI looking week is now 916/917 , will show target of 905/900 in two to three days , will short tataelexi tommorow with confirmation in intraday
Bearish Shark - TataElxsi - 4hr Bearish Shark - TataElxsi - 4hr
PRZ: 901-910
SL: 916
TGT: 885, 875
01-07-2019
TATA ELXSI ANALYSIS- PLAYING W/ DOUBLE BOTTOMLets look at the analysis --->
1> EW ANALYSIS :-
Assuming this trend from 1490.9 level in corrective phase, we will assume impulse wave completed at 830.1, after that it slightly got complicated, still we will keep prefer count as B as flat, now we might be in wave c of B.
2> Classical TA :-
a. the downtrend channel has given a breakout
b. formed a minor double bottom (named as double bottom 1) with neckline at 911 (marked with red horizontal line)
c. formed a major double bottom (named as double bottom 2) with neckline at 1002 (marked with violet horizontal line)
d. given a bullish divergence in oscillator(RSI)
e. bearish momentum has weakened and TS is about to make crossover w/ KS in ichimoku cloud
f. scrip got major support at 830/35 range.
3> Putting it all together :-
a. With current momentum and counting internal EW, it should touch the neckline of double bottom 1 at 911, if it breaches 869 without touching 911 levels, then it is something to take a quick look at the analysis again.
b, After breaking neckline decisively, we might see up-move towards 1002, which is neckline of double bottom 2 and height of double bottom 1. It might face some hurdle around 950 levels, that can a point to look for.
c. After breaking neckline decisively of double bottom 2, we might see up-move towards 1150/1195, this level again is height of double bottom 2 and 50% retracement of Fib levels. At the same level, there might be completion of wave c and B.
Overall, we need to keep in check with the swings of the scrip as it has not yet given breakout to any of double bottoms.
Regards,
Sharma Yogesh
bearish butterfly tata elxsi sell prz at 891 to 896 sl 903.8 tgbearish butterfly tata elxsi
sell prz at 891 to 896 sl 903.8
tgt 882 ,877 ,872 ,864 cmp 886.05
chart by tele @ market with harmonics 28/6
Tata ElxsiAn old crown fav could potentially be bottoming out.
Go long with a SL below 820. (the SL is deep coz it isn't a short term play but one for investors)
[Intraday] Tata Elxsi Short TradeAs per charts. The correct entry will be entering on previous candle low break.
Possible Move Up for CTata Elxsi might see a corrective up move to complete the C wave of the possible ABC (Flat) pattern it is in currently. Risk reward seems to be good too.
