Tata Elxsi shares hit 52-week low, continue declining

Tata Elxsi shares fell 0.78% to a 52-week low of Rs 5,196.05, marking the sixth consecutive decline. The stock is down 23% this year and has dropped 32% over the past six months. The stock is currently trading below all major moving averages, indicating a bearish trend. Analysts suggest support is at Rs 5,145, while resistance is at Rs 5,400. Morgan Stanley has lowered its target price for Tata Elxsi from Rs 6,000 to Rs 5,400. Analysts expect continued selling pressure, with potential further declines if the stock closes below Rs 5,133.