TATA ELXSI
Difficult to comment for short-term as chart is yet to develop fully on down-side and we might see some short-term up and down gyrations due to bear-market bounce in US as well as in India but for medium to little long term , it looks bearish.
Reasons :
a) It has broken the channel of the whole rally that started in March 2020
b) Has first time gone below 40 WMA in last two and half years, if it closes belw the same on this weekend , weakness would get further cemented.
c) Is on sell on Monthly,weekly MACD .
Should get a support near 7100 and then 6900 – as this happens to be a gap areaon daily charts. If it breaks the same , we can see it at sub-6000 levels in the months to come ( and still it would be overvalued 
)
Weekly Chart
Disclaimer :This post is just a for learning few methods of price-patetrns. Views are personal. No buy/sell recommendations. These are probability study methods and chances of success/failure depend upon various factors
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