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Tata Elxsi LimitedTata Elxsi LimitedTata Elxsi Limited

Tata Elxsi Limited

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TATAELXSI trade ideas

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. If you found this analysis helpful, please like and follow me on TradingView for more articles and trade setups. Your support, likes, follows, and comments keep me motivated to write consistently. Thank you!
NSE:TATAELXSILong
by AfnanTAjuddin
double bottom(W) breakout at TATAELXSIOn the #TATAELXSI daily chart, after a 45.42% correction from the lifetime high, a double bottom(W) breakout occurred, which means a reversal. The reversal is also confirmed by the Nifty/TATAELXSI ratio chart. I compared #TATAELXSI vs. the #Nifty and its peers from October 14, 2021, and discovered that it has outperformed both the Nifty and its peers in the sector. BSE: 500408 NSE : TATAELXSI ONLY FOR #educational NOT SEBI REGISTERED #LEARNEARN It's my analysis, and it's 100 percent possible that I'm wrong. So, please don't believe in me; do your own analysis before investing.
NSE:TATAELXSILong
by Usemerr
GOING SHORTHello friends I am sharing a short idea for TATA ELXSI which is looking hanging between two important support zones and gives a close below (BREAKDWON) from upper support so it is properly visible that is going to touch it's second support zones so that this is the reason we can make a short position in it with the expectation that it will going to touch the lower support area for the target of 5857 and 5737 (second support zones) with the stop loss of 6260 above a day close candle as we can see on daily chart the volumes are drying from last many sessions and by the today's volume bar getting the indication that big selling was initiated in today's session this is and ideal pattern for profit booking too which stay remained in it after a buy from recent swing lows and a can make a possible entry too from strong support zones if will get a bounce from there. Reason Of Short-: 1- Gives a close below on important support. 2- Selling Volume spike which is indicating coming weakness. NOTE-: This is not and trade or investment advice. This idea is meant for learning only. Invest your capital at your own risk 𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧
NSE:TATAELXSIShort
by AMIT-RAJAN
#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.
NSE:TATAELXSILong
by trendlines139