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Technical Stock Pick  Buy Tata Elxsi Ltd For Target Rs. 4200 - HDFC Securities 

TECHNICAL OBSERVATIONS

Symmetrical Triangle Breakout on the Daily chart

Breakout in price is accompanied by rising volumes

Nifty IT Index has broken out from consolidation pattern on the daily chart

Primary trend of the stock has been bullish with higher tops and higher bottoms

Indicators and Oscillators setup has turned bullish on short term charts

Short term moving averages are placed above long term moving averages

Buy Tata Elxsi Ltd Up to 3 months  @ Average Level 3470 CMP 3660 TGT  4200 SL 3390

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