Titan - Downtrend resumes ?

Titan NSE:TITAN seems to have topped out around 1000 levels and had a swift fall thereafter to make a low of 909.

After a small retracement for 4 days, looks like the downtrend has resumed today.

Today’s candle is a large bearish engulfing candle which wiped off all the gains it had in the past 4 days, indicating a strong selling pressure.

To me it looks like the stock is moving towards 872 levels.

Took short positions today with stop loss around 950 levels for a first target around 872 levels.

Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.


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