Blue Sky Zone Breakout in Tata Elaxi

15 Okt 2020

Tata Elaxi enter into a Blue Sky Zone with Mega Breakout. Chart shows a beautiful rounding bottom pattern breaks its high price of year 2018 at Rs 1460. The company gives very good results in this quarter: revenue up by 11.5 %, EBITA up by 67.4 % and profit up by 58.4 %. This is the Techno-Funda pic where technical chart breakout will be supported by good financial results. My First Target for the trade is 1700 and second target is 2100 with a stop loss of 1200 with good risk to reward ratio. The stock already given a multiyear breakout near 1100 and stock is in good momentum. Investing horizon for 3 months to one year because breakout on weekly chart.