Chart of the day – Tata Elxsi

Tata Elxsi – On the daily timeframe the stock is on the RSI Line support. Dropping down to hourly charts, a inverse head & shoulder formation is noticed, the breakout from the pattern has already occurred and a retest of the breakout area is seen. The RSI 9 is well above 45. 970 will be support for going longs, the minimum target of the pattern is 1080. This is not a trading call, the analysis of the chart has been done with a educational awareness intention. For regular updates follow me of twitter @BharatJ82

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