TATA ELXSI: Giving nearly 30% returns, How to identify Multibagger Stocks

elliott wave multibagger stocks tata elxsi Aug 16, 2022
Trading, Tata Elxsi, Stock Market

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We had published about Tata Elxsi in July 2022 and predicted a possibility of Multibagger returns in the coming 2-3 years. This stock has managed to give almost 30% returns in less than a month's time and made a lifetime high near 10719 levels today itself.

Below is the chart which shows a detailed analysis of Tata Elxsi which helped to predict this target levels using the Elliott Wave technique and Time cycle. We recommended this stock when it was trading near the 8400 levels and was successfully able to catch the up move.

TATA ELXSI Weekly chart (Anticipated on 26th July 2022)

TATA ELXSI Weekly chart (Happened on 16th August 2022)

(Following research is taken from Multibagger report published on 26th July 2022)

Multibagger stock recommendation: Tata Elxsi

Buy Price – Buy at CMP 8401 and more on dips to 7450

Time Horizon – 2 to 3 years

Investment – 5% of capital

Target price – ??

Stop loss – ??

Anticipated as on 26th July 2022– Elliott Wave Theory: The wave theory suggests that primary degree wave [4] completed in the form of diametric correction near the low of 90 levels and also near the cycle low. Currently, the primary degree wave [5] is ongoing on the upside which is further subdividing. Within this intermediate wave (iii) has been unfolding on the upside which is usually the largest as per wave theory.

Happened as on 16th August 2022 – After a minor dip, the stock is moving higher, and currently, it's trading at its lifetime high. In today’s session price made a high of 10719.40 levels. The current rise is strong and we can expect prices to achieve its target of ….. levels in coming months. The stock has given returns of nearly 30% within a month of span.

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