Tata Elxsi – Technical Analysis (Engineering R&D/Design IT)

Technical View:

The stock remains range-bound after a steep downtrend from 6000+. Current price near 5347 is struggling to close above 5350–5400, which is a strong resistance. EMAs are flat and tightly packed → clear indecision. Higher lows forming since early Nov indicate slow accumulation. Breakout zone: 5400–5450 → target 5600 / 5750. Support: 5200, deeper support 5050. Structure: – Long consolidation = energy building – No strong volume expansion = breakout not confirmed – Trend still medium-term bearish unless >5600