Did Titan reach its life time high and ready for profit booking ???
• Wedge pattern break out target reached (width of wedge would be the target)
• Inside bar/Bearish Harami candle formation seen today
• Titan is at life time high
• Is in overbought zone with decreasing volume
What can happen next :
Scenario 1 : Uptrend can continue to reach...
Hindustan Unilever is showing signs of bearishness
• Daily Trend far away from 20 EMA
• Uptrend is in pause mode
• Bearish Harami followed by two shooting stars/inverted hammer formed (Chances of going down)
• Since 17 sessions stock did not retrace
• Volume is decreasing
• RSI and MACD in overbought zone
• For a healthy uptrend retracement need...