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TITAN | Lets be part of all time high stock while it is making

Long

TITAN COMPANY LTD (NSE:TITAN)

NSE:TITAN TITAN COMPANY LTD

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trendline supportandresistance supplyanddemand retest breakout alltimehigh swingtrading positional pricerange

TITAN | Lets be part of all time high stock while it is making - Breakout and retesting the zone now. Weekly chart and price consolidation range suggests it can go up 27% up from here.

CMP : 1335
SL : 1300
Target : Open (Can ride the trend using Pivots ) - Keep trailing SL below intraday level S1 everyday once we got 10% profit.

Trade closed: target reached

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Comments

It needs to break the resistance first. Has equal chances of going down (to 1250).

Himanshu93

@Himanshu93, Which resistance do you mean? I dont see any clear resistance now.

srikartiram

@srikartiram, All time high zone from the past is the resistance along with the channel resistance.

Himanshu93

@Himanshu93, Channel is already given breakout and retesting as per my chart lines. All time high is just few points away. That is just one small wick. Entry here gives me comfortable risk reward.

srikartiram

@srikartiram, okay sir. Let us see what happens.

1) On a daily time frame channel was broken with a power bullish candle and now retracing
2) If we draw a Fibonacci on a daily time frame for the swing starting from 2nd Nov it is clearly respecting the 23.6% level. chances are to go up from here.

Hi sir Will the share price decline further

dhanarajsekar2010

@dhanarajsekar2010, Chances are less, but always respect stoploss. We can enter again when it bounce back.

srikartiram

@srikartiram, thank you