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Published on 16/04/2019 10:35:50 AM | Source: Choice Broking Pvt Ltd

Buy Tata Elxsi Ltd For Target Rs.1072 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #IT Sector #Tata Elxsi Ltd. #Trading Report #Choice Broking

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* On a daily chart, the stock has formed a Big Bullish Candlestick with above-average volume which suggests an accentuated buying activity in the counter.

* Moreover, the stock has given a breakout of its range bound movement which suggests a robust upside movement in the counter.

* Furthermore, the stock has been trading above its 21 Days Moving Average which is placed at 969.00 level which indicates a positive momentum in the counter.

* A daily momentum indicator RSI reading is at 64.30 level with a positive crossover which points out for a positive breath in the counter.

* Based on the above technical structure, we are expecting a good upside movement in the counter in an approx. on week.

Recommendation

Buy Tata Elxsi Limited @982.00-991.85 SL 952.00 TGT 1072.00

 

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