Titan seems to be forming a bullish scenario & can be bought on dips. On daily it formed equal lows & broke the downward trend line with high volumes. Near the equal lows it also did a classic wyckoff accumulation on a lower timeframe. After breaking out of the daily trend line it also formed a very big volume imbalance.
Strategy 1 - wait for price to come to the hourly demand zone then take a buy entry.
Strategy 2 - wait for it to tap in the volume imbalance & buy from there.
Note - Strategy 2 should only be used if the stock is showing bullish momentum from the volume imbalance. For a detailed explanation of what a volume imbalance is you can check out the maruti analysis linked to this post.
Strategy 1 - wait for price to come to the hourly demand zone then take a buy entry.
Strategy 2 - wait for it to tap in the volume imbalance & buy from there.
Note - Strategy 2 should only be used if the stock is showing bullish momentum from the volume imbalance. For a detailed explanation of what a volume imbalance is you can check out the maruti analysis linked to this post.
Trade active:
Scenario 2 played out perfectly. Titan came into the imbalance yesterday & made a low of 2542. Today it made a high if 2602, have booked 50% partials & SL has been moved to break even.
Trade active:
waiting for 2630 to book the rest 50%
Trade active:
missed target by 4 points, still in the trade.
Trade closed manually:
not seeing much momentum hence closing the trade at 2577, entry was at 2550. 50% partials at 2605.
