If you want to buy Tata Elxsi for long term a good price would be around 4500-4700 levels
Patience is required to avoid FOMO & wait !
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Reasons-
1. Long term channel top.
2. Curvature shift of 20 and 50 WMA along with price hitting 20 WMA frequently.
3. Overall weakness in IT sector.
4. For reference, study reliance top in August 2020, study Nasdaq Weekly chart and the top made in Nov 2021.
#tataelxi https://t.co/RmJa5LrdAP
1. Long term channel top.
2. Curvature shift of 20 and 50 WMA along with price hitting 20 WMA frequently.
3. Overall weakness in IT sector.
4. For reference, study reliance top in August 2020, study Nasdaq Weekly chart and the top made in Nov 2021.
#tataelxi https://t.co/RmJa5LrdAP
I have traded the current fav Tata Elxi from 2200 to 4500. No regret on missing out rest of the move because I am not an investor. Now there are many technical red flags. I might be trolled but 10.5k looks max target while 5k or 3-4 years of sideways looks inevitable.#tataelxi
— Aakash Gangwar (@akashgngwr823) March 26, 2022