STOCK IS FOLLOWING A VERY GOOD TREND LINE AND CURRENTLY ON TREND LINE SUPPORT, BUT ALSO IT HAVE NOT GIVEN CLOSING BELOW 200EMA ON 15 MIN TF, BOTH SHORT AND LONG TARGETS ARE MENTIONED ON THE GRAPH.
REASONS FOR STOCK SELECTION:-
1. RISING ADX,
2.TREND LINE SUPPORT,
3. EMA SUPPORT,
4. GOOD RRR ON BOTH SIDES.
Technical Analysis of: NSE:TITAN
The Elliott waves Cycle Oscillator is indicating a detection of corrective (correction / fall) wave. The Elliot wave is showing a CORRECTIVE movement, showing an DOWNTREND . The waves 1, 2, and 3 completed at 1559.9,1462.25,and 1803.95
Seeing a BEARISH trend further ahead, the RECOMMENDATION is to SELL...
As we can see in weekly time frame, it is making perfect deep crab pattern and respecting it.
Now as it has completed pattern at point D, we can consider shorting it :
View1:- we can short now with stop loss of middle red line that is at 1758, with stop loss of 1765
View2:- (safe bet), if candle closes above 1765 then we can safely long till 1803, then from there...
Titan is in its breakout zone in my quant box on the daily chart. RSI is filled with more of +ve Beta means if it breaks upward it will be good for the derivative traders but if it gives a breakout downwards then it will take time for the script to reach the given target rather it may go sideways because RSI will take time to gather negative +Beta.
MFI must take...