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Price and trend forecast of TATAELXSI for Tomorrow, Weekly, Monthly

Tata Elxsi Limited

Symbol: NSE:TATAELXSI

ISIN: INE670A01012

7,451.00

As on 2024-04-19

6,205.55 (52W Low) 9,200.00 (52W High)

TATAELXSI's Today's Performance

Tata Elxsi Limited started the day by opening at 7,474.00 today 2024-04-19. Its shares reached a high of 7,475.85 and dipped to a low of 7,368.00 in intraday. When the markets closed, TATAELXSI’s stock price settled at ₹7,451.00 per share. Also check out its key support and resistance levels.

TATAELXSI Buy/Sell Targets

Tomorrow, sell TATAELXSI when its price reaches ₹ 7,451.00 with a stop-loss order at ₹ 7,506.83. You can set the target price as ₹ 7,395.18 to capture potential gains. This sell position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of TATAELXSI for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for TATAELXSI

Downside Targets Value in ₹
Tomorrow Down Target 1 7,495
Tomorrow Down Target 2 7,539
Tomorrow Down Target 3 7,603

Important Levels for TATAELXSI

Holding Levels Value in ₹
Tomorrow Up Target 1 7,387
Tomorrow Up Target 2 7,324
Tomorrow Up Target 3 7,280
Based on where the stock opens tomorrow, if TATAELXSI opens on a positive note, our first target will be ₹7,495. If Target 1 is achieved, we will aim for Target 2 which is ₹7,539.

But if TATAELXSI falls below the average value of ₹7,431.62, you can enter a sell side position with target number 1 - ₹7,387 and second target - ₹7,324 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of TATAELXSI

Looking at TATAELXSI, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, TATAELXSI has been on a Downward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for TATAELXSI is moderate bearish.

Tomorrow's Volume based share price Forecast for TATAELXSI

TATAELXSI's Volume is currently in a Decreasing trend, and Price is in a Downward direction. Therefore, we can say the stock is in a moderate bearish trend. Volume trend strength over the last month compared to the last week is -10%.

Reversal detection for TATAELXSI

Predicted trend chart of TATAELXSI tomorrow for price forecast
TATAELXSI may reverse its trend from downside (Short term bullish outlook) and we can get target of ₹7514 in morning tomorrow
Target 1 tomorrow7473
Target 2 tomorrow7498
Target 3 tomorrow7539
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with TATAELXSI's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if TATAELXSI opens on a positive note, our first target will be ₹7,495.23. If Target 1 is achieved, we will aim for Target 2 which is ₹7,539.47.

But if TATAELXSI falls below the average value of ₹7,431.62, you can enter a sell side position with target number 1 - ₹7,387.38 and second target - ₹7,323.77

TATAELXSI's Weekly Targets
1st Up Target 7,651.33
2nd Up Target 7,851.67
1st Down Target 7,309.33
2nd Down Target 7,167.67

As the week for TATAELXSI ended on bearish sentiments, we can expect further continuation of this sentiment. TATAELXSI's initial target will be 7,651.33 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 7,309.33 in the upcoming week.

Weekly OHLC Values
Open 7,669.95
High 7,710.00
Low 7,368.00
Close 7,451.00

Week for TATAELXSI started with an open price of 7,669.95, and the close was at 7,451.00. TATAELXSI reached the highest of 7,710.00 and dipped lowest up to 7,368.00 last week. This indicates a bearish sentiment for the week.

TATAELXSI full month swing targets
Monthly Up Target 1 7,993.33
Monthly Up Target 2 8,193.67
Monthly Down Target 1 6,967.33
Monthly Down Target 2 6,483.67

Targets of ₹7,993.33 can be expected to be reached in the coming month. Once TATAELXSI achieved this target, we can aim for the next upside target of ₹8,193.67.

TATAELXSI if fails to hold upside, down targets of ₹6,967.33 and ₹6,483.67 can be achieved by end of this month.

For complete three weeks if TATAELXSI is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as TATAELXSI

Symbol Name Industry
TCS Tata Consultancy Services Limited Information Technology Services
INFY Infosys Limited Information Technology Services
CYIENTDLM Cyient DLM Limited Electronic Components
HCLTECH HCL Technologies Limited Information Technology Services
IDEAFORGE ideaForge Technology Limited Computer Hardware

Summary

TATAELXSI is expected to reach the target of 7,495.23 in tomorrow's trading session.

After achieving the initial target in TATAELXSI, we will aim for higher targets of 7,539.47 tomorrow.

However, if TATAELXSI starts to trade below ₹7,431.62, then we will shift our focus to the sell side and aim for down targets of 7,387.38 and 7,323.77.