TATA ELXSI - UPDATE

Price has retraced to break out line. Prices is ex dividend of Rs.7/-

Partial booking @ 170 is an good idea. for remaining quantitiy Use stop loss of 161. Keep trailing stop loss till it gett stopped out.

Please go through disclaimer mentioned elsewhere on the blog.

Disclosure : I hold positions in this stock.

Nifty - Time to slow down & watch

Nifty Fibb target of 61.8% is around 4780 & from here on there are chances of correction. To support this view i have posted daily chart of Nifty where there is a clear negative divergence with MACD.

Week starting from 17th August can be decider. Lets Watch. :-)

Must watch this week is Tata Elxsi & Kaminey

Updating from the last week post on Tata Elxsi, price has broken above the line & 1st target of 185 is easily acheiveable. Point to remember is Tata Elxsi is getting exdividend on 21st August & the dividend is 70%. So it can be double bonanaza, as in Kaminey it is double bonanza to watch Sahid in double role & not to mention Piggy Chops ( though not my personnal favourite).

Fundamentals of Tata Elxsi are excellent & so is the films story line.

Script is from a trusted group & the film is from one of the best director Vishal Bhardwaj.

Bottom Line : Watch Kaminey & Tata Elxsi for double dhamaka. :-)

Disclosure : I have positions in Tata Elxsi but no positions in Kaminey.

Disclaimer : Please read it mention elsewhere in the blog. I hold no responsibility for the swine threat in the multilexes & theatres ;-)

TATA ELXSI - CUP AND HANDLE PATTERN

TATA ELXSI has formed an cup & handle pattern on weekly chart. Break out above the line can achieve upside potential of 185 & 225. Stop loss of 145 ( marked in red circle) should be observed.

Disclosure : i personally hold the positions in this stock.

Please go through disclaimer on this blog.