Tejas Networks Ltd (TEJASNET)- Analysis Bullish Levels -if sustain above 789 (early entry risky) then 847 (safe entry if sustain above this for a week) target can be around 952 then 967 or 1010 or 1022 first target, if sustain above for a week or two then we expect more upside and wait for targets around 1800
Bearish levels :- if sustain below 731 then 696 the 672 good support with SL of 661 then 551 to 556 again good support with SL of 544 to below this more bearish.
**Consider some Points buffer in above levels
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TEJASNET trade ideas
Tejas Networks: Bullish Reversal at Key Support, Targeting 1,450Trading Idea:
Stock: Tejas Networks Ltd (TEJASNET)
Timeframe: Daily (1D)
Current Price: 704.95 INR
Key Levels:
Monthly Liquidity Zone: Support at around 644.65 INR.
Target Zone: Potential upside towards 1,440.00 INR to 1,458.95 INR.
Trade Setup:
Entry: Buy around 644.65 INR (near the support level) for a possible bounce, especially if the price confirms a reversal from this level.
Stop Loss: Place a stop just below 644.65 INR, considering it’s a key support zone.
Target: Aim for the price to reach the target zone between 1,440 INR to 1,458.95 INR. Watch for price action at these levels for possible further action.
Reasoning:
The chart shows a strong sell-off followed by a potential reversal at monthly liquidity support.
The CHoCH (Change of Character) pattern suggests a shift in trend direction, which could provide an opportunity for an upward move.
tejas networkThis stock is showing good volumes and it has given an inverted head and shoulders pattern breakout and the breakout candle shows good volume sl can be placed based on your risk appetite either below the low of the shoulder i.e. 740 (closing basis or prominent closing) or below the bo candle of 780(on closing basis or a prominent closing)…targets can 975,1100,1350 and 1500 …breaking 1500 which is the all time high can take it to a new territory
TEJASNET Trading Within Demand Zone (672.0-651.25)The stock TEJASNET is currently trading at 659.75, within its demand zone ranging from 672.0 to 651.25. The last leg out occurred on 2024-04-01.
Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please perform your own due diligence or consult a financial advisor before making any investment or trading decisions.
Tejas networks-Technically strong setup!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