Titan has just given a clean trendline breakout followed by a successful retest, which makes this setup quite interesting from a positional swing trade perspective.
✅ Trendline Breakout
• The stock broke a strong descending trendline that had been acting as resistance for several months.
✅ Retest and Bounce
• After the breakout, Titan came back to retest the breakout level near ₹3,380, which held well — a classic bullish sign. This bounce happened around the 38.2% Fibonacci retracement zone — another technical confluence that adds weight to the trade idea.
⸻
📈 Entry, Targets & Stop Loss
• Entry Zone: Around ₹3,665 – ₹3,695
• Stop Loss (SL): Below ₹3,202
Important note: If price breaks below ₹3,500 without RSI crossing 75, it might lead to negative RSI divergence — a warning of weakening momentum. In that case, better to exit to avoid capital getting stuck.
⸻
🎯 Targets Based on Fibonacci Extensions:
• Target 1: ₹4,123
• Target 2: ₹4,324
• Target 3: ₹4,580
These targets are calculated using Fibonacci extension levels, with the final one being the 1.618 golden ratio zone.
⸻
Disclaimer: Do your own analysis before putting money in investment. Idea is for education purpose to share and learn within trading view community. Not a suggestion to put your hard earn money.
✅ Trendline Breakout
• The stock broke a strong descending trendline that had been acting as resistance for several months.
✅ Retest and Bounce
• After the breakout, Titan came back to retest the breakout level near ₹3,380, which held well — a classic bullish sign. This bounce happened around the 38.2% Fibonacci retracement zone — another technical confluence that adds weight to the trade idea.
⸻
📈 Entry, Targets & Stop Loss
• Entry Zone: Around ₹3,665 – ₹3,695
• Stop Loss (SL): Below ₹3,202
Important note: If price breaks below ₹3,500 without RSI crossing 75, it might lead to negative RSI divergence — a warning of weakening momentum. In that case, better to exit to avoid capital getting stuck.
⸻
🎯 Targets Based on Fibonacci Extensions:
• Target 1: ₹4,123
• Target 2: ₹4,324
• Target 3: ₹4,580
These targets are calculated using Fibonacci extension levels, with the final one being the 1.618 golden ratio zone.
⸻
Disclaimer: Do your own analysis before putting money in investment. Idea is for education purpose to share and learn within trading view community. Not a suggestion to put your hard earn money.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.