the_consolidation_guy

Titan Channel Consolidation (Time for Breakout?)

Long
NSE:TITAN   TITAN COMPANY LTD

Notes:
- The Scrip was in a channel consolidation ever since 3rd Dec 2020 (220 point range roughly)
- It has tested the upper bounds of the channel 4 times in total
- Currently, the scrip is consolidating and testing the upper bound of the resistance zone (at around 1615-1620). Because of the consolidation, I'm slightly bullish since the last three times it tested resulted in a strong rejection (as shown by the shadow on the candles)
- Also the 21DMA is ready to cross over the 100DMA.


Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
Trade closed: target reached: Although it made us wait for 3 days, the breakout candle was just beautiful.

On 3rd June, Titan was among the top gainers for the day closing around 6.65% Up.

I was able to catch close to 2% move intraday within a span of 3 mins.
Comment: Just glad to see the stock making higher highs above our entry.

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