TATAELXSI is near support line of channel patternNSE:TATAELXSI large cap IT stock is near the support of channel pattern formed since 2021-04-01
Pros:
Consistent increase in Revenue and Profit
Zero net debt, very low debt to asset ratio
Consistent dividend payer
Cons:
Trading at very high PE ratio.
Short term : For short term gains, buy at channel bounce around 8700 and above and exit at 20% gains.
Long term : Since the channel is formed for 1.5 years, higher gains can be obtained in long term by accumulating more at lower levels. Buy around 8200 and more at lower levels. Exit can be near the resistance reversal or after breakout (if any). This can nearly provide 50% for full up move.
Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.
Profits are not made from following ideas, but by following Risk Management .
