Titan Eyeing a Potential Reversal—Breakout on the Horizon
Updated
✅ The stock has been trading within a descending channel since early 2024. It is now approaching the upper boundary of this channel, which could act as a key resistance. A breakout from this channel could signal a reversal and an upward trend.
✅ The 50 EMA has been providing dynamic resistance over the last few months. The stock is now testing this level once again, making it a critical zone to watch.
✅ The stock recently bounced off a strong support zone around ₹3,300, indicating buyers are stepping in at lower levels. If the price can break out above the descending channel, this support level will become even more significant as a foundation for the next leg up.
✅ The RSI is currently at 53.48, showing a slight bullish bias. A move above 60 would indicate stronger bullish momentum, supporting a potential breakout from the descending channel.
✅ The 50 EMA has been providing dynamic resistance over the last few months. The stock is now testing this level once again, making it a critical zone to watch.
✅ The stock recently bounced off a strong support zone around ₹3,300, indicating buyers are stepping in at lower levels. If the price can break out above the descending channel, this support level will become even more significant as a foundation for the next leg up.
✅ The RSI is currently at 53.48, showing a slight bullish bias. A move above 60 would indicate stronger bullish momentum, supporting a potential breakout from the descending channel.
Trade active
3400 to 3625 more than 6% up
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