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 !

3 Common chart patterns guide 🧵

With examples

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1) Cup & handle pattern : As name suggest it looks like a cup & handle. The cup is formed as stock corrects & then starts picking up again.

Handle formation is good process as it then digests the run leading to more sustained move. The specifics of cup above (1/n)

Note - The usual depth of a good cup is max 35% but if the market is coming out of deeper correction. Then the depth of cup can be 50-55% too. But in a bull market a correction more than 35% can result in faulty pattern with lots of overhead supply ..Examples below (2/n)

Examples - Deepak Nitrite, Dixon tech

TD Power System - Recent one ( Note the handle depth here is 19% . As compared to textbook handle this is more. I see upto 20% handles working) (3/n)

2) VCP - Typically volatility contraction is not a pattern but a characteristics of any pattern. You see deep handles >15/20% - you can say that its not a cup & handle ideally but a VCP which is also fine & will work. Reduced volatility is what traders want to move ahead (4/n)

Greenpanel : Bye Bye MDF Story

Long term trendline breakdown + breaking down 10/20 EMA

One should book profits in this if holding from lower levels..Also, MDF is cyclical - Use of technical sis must for exiting

Detailed warning analysis 1 month back - https://t.co/zJ09RLy3mB

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🏆Best Moving average -

Much needed cool off "hopefully" starting in ELXSI. Will be a good buy on 20-25% cut. So much is already in the price. And those 30%+ contracts aren't forever in this space.

Any guesses which company? Will the resistance of PE will play again?