Titan is testing its All time high for another time at 1610 levels.
If it manages to break the resistance, Execute long after the retracement happen near the Resistance level as mentioned in the chart for a minimum target of 50 points.
If it fails to break and started to fall, execute Short at 1580 levels after the retracement (for confirmation) for a target of...
Gave a massive breakout. It is not wise to jump into the trade right away since SL will be huge.
Traders with FOMO can add 30% of their usual allocation at this level and add more if there is retest of the previous resistance zone.
Tgram: Stocks 101
#TITAN looks to be a eligible counter for breakout above 1625
It has been staying the box for 1400 - 1600 Box since last 5 months and for the last few days it is staying in the top of the range attempting a breakout
The volume support has been increasing in the recent past
The counter has making highers highs for while now and nearing its recent BO point
Note :...
If market sentiments continue to make higher high then Titan will easily touch 1700 by End of June.
and if market sentiments turn to red then it can fall.
But in both cases, it is sure that Titan will first touch to 1560 which is around -3% of Monthly open price.
1)Resistance formed is very crucial
2) All tim high
3) Stock is in a strong up trend
4) See the consolidating candles on daily time frame indicating strong bullishness in short term also
Weekly chart of TITAN clearly indicates the price is in verge of DARVAS box breakout but in RSI, there is a negative divergence seen. So we have to wait for the upcoming weekly close before going long in this stock
TREND ANALYSIS & TRADE SETUP !
WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Reward is 8-10 times .
Regards @MohitArora
