The stock has given a sharp pullback after witnessing a strong rally since the start of the March series. The stock has formed a bearish Engulfing pattern on the daily chart along with an addition of fresh short positions, indicating a negative bias going into the next week.
|Buy or Sell||Sell ( Mar Futures)|
|Stop Loss||Rs 87|
|200 D-EMA||Rs 112|
|Company||Tata Elxsi Limited||The stock has given a strong recovery from its recent low by forming a bullish Hammer candlestick pattern on the daily chart. Tracking the hourly chart, the stock has given bullish continuation Flag pattern breakout.
It is also showing strong strength on the ADX Indicator, wherein the +DI line has crossed the 25 level and is trading above DI & -DI line.
|Buy or Sell||Buy (Cash)|
|Stop Loss||Rs 945|
|200 D-EMA||Rs 1042|