Compared to other IT stocks TATAELXSI is a bit overvalued for sure and has not fallen at the same rate as other large-cap IT stocks. But I see potential since there are chances for a recovery in the US market which in turn will lead to a recovery in the Indian IT sector and this in turn will be a positive element for this stock. Targeting the all-time high for a move of about 50%, as of now.
But I totally accept the possibility of a crash and will consider adding at around the bottom of the ascending channel.
Trade closed manually
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Did take a second entry on somewhere around April 2023 and the average levels was about 6462.48.
Now closed the position and booked a profit of about 19.46%.