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TATA ELXSI Share Market Tips - Stock coming down from strong resistance , further buying expecting if closes above 671 as per technical analysis point of view. (Updated On 21st July 2014, Monday).





  • As per previous report published on TATA ELXSI , stock gave a sharp intraday move after breaking 647 and made a intraday high of 671. (Click here to view previous report on TATA ELXSI).
  • Now daily chart indicates stock gave strong intraday selling once it touched its resistance, as shown above. Which indicates stock can see further buying once it closes above 671 and stays above, daily chart also indicates stock is trading above 20 days moving average that will favor bulls to take stock move upwards.
    • Intraday close watch once TATA ELXSI starts trading above 671 can see some intraday action.
  • If stock falls further from current levels then will find strong trend line support around 600.
  • Monthly chart indicates stock is facing 261.8% fibonacci retracement resistance around 671 now , once closes above then stock looking good for short-long term traders.
  • Suggested article to read from our collection - What is nifty and nifty futures.

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What is Intraday Tips ?

Q. What is Intraday Tips / Inraday Trading / Delivery trading.

A. There are basically two types of trading on stock market--
1- Delivery
2- Intraday

Delivery trading is one in which shares are bought and can only be sold after they are delivered by the broker.that means that they cannot be sold the same day , and delivery takes two to three days after they are bought and then they are ready to be sold.

Intraday trading which takes place for that very particular day and there is no delivery..they can be bought and sold the same day...and are automatically sold at the end of the trading session if you have not sold it by yourself during the trading session. The person who suggest such types of forecast is called

Intraday Tips

.