Tata Elxsi Then & Now… our post of Tata Elxsi with charts as on 3 Sept 2018, when price was 1467. We had 3 wave counts all pointing downwards. See the charts of 3 Sept. (Readers are advised that some of the labelling has been altered in the latest charts).
Price on 8 Oct reached 922.
Tata Elxsi Elliott Wave Analysis. As on 3 Sept 2018. CMP 1467
Decline is expected with wave counts given below. Once price moves in expected direction, we will analyse the decline and provide targets.
On 16 Oct we said “Price is headed to at least the 700 level depending on which count is used. All 3 counts are bearish medium term. Short term rallies are possible, which should be used to initiate short trades.”