Titan
Titan forming bullish structureHello guys the last stock adanient nearly hit our intraday targets but we books profit in derivatives instead of cash segment and TCS also made a high of 3705 which is 1.6% above our buying levels in a day and the latest abbotindia is still above our buying price buy not as much profits yet.
The next stock that I am bullish on is Titan and it's forming a bullish flag and pole kind of pattern + a bullish pennant too. We can only buy it when it gives a breakout.
I can also spot a RSI divergence highlighted by a re line on both the chart and RSI indicator.
The runaway gap is also acting as a support and has also been filled so we need not worry about it.
MACD is about to come above the signal line.
RSI is 47 which I consider as bullish.
Buy above - 2360
Targets mentioned in the chart above
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Did Titan reach its life time high and ready for profit booking Did Titan reach its life time high and ready for profit booking ???
Reasons/Traits :
• 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 4.618 levels of ABCD pattern /2080/2100 levels
Scenario 2 : Profit booking to go downside of 0.236/0.5/0.618 and go uptrend
2000-2100 levels are an important zone, let’s see..
Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
TITAN CLEAR IDEA TO SHORT AT CURRENT LEVEL 2478 - 2540 SL 2605 Time to selling titan at price zone 2478 - 2540 sl 2605.invalid 2605DCB
1.monthly inside the range
2.daily symmetrical triangle pattern
3.point of control 2540
4.monthly open 2440 previous monthly close 2380 these are important.below this level 2340,2311 levels.
5.supertrend respone 2380
6.50 ma response 2310 levels
7.sustaing below this levels positional selling target 2145 to 2200 levels coming weeks
educational purpose only
Titan - A stock to watchAfter a Breakout with good volumes
Stock is in pullback with negligible volumes
MacD is on the Verge of turnaround
If so happens now we may witness price going up again with heavy volumes & not turning back soon
Entry may happen some around at current area 2470-80, rest only above 2550 only for better Trade Management
View negated below 2440 (CLBS)
Swing SetupEXPLANATION : This is a 45 min time frame chart of TITAN . The stock has been in a uptrend for days , I am seeing a very good selling opportunity in TITAN because of many reasons . It has formed head and shoulder pattern , gap pending in market It goes to correction . If give a strong breakdown and broke its demand zone with volumes and has retested the same. I am bearish on this stock for the coming days . If taken support from demand zone we buy at the bottom and sell at the top , I am bullish on this stock for the coming days . Enter as per your setup .
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Nifty rebounds in style but ends below 17800NIFTY 50 EOD ANALYSIS -07-10-21
In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow.
O 17810.55
H 17857.55
L 17763.80
C 17790.35
EOD +144.35 points /+-0.82%
SGX Nifty @ 1735h 17847 / +25 points
FII DII = It is a bit early for the data to be released. DIIs may have sold.
CHART BASED CONCLUSIONS using 5 Minutes Chart
A strong 150 point gap up opening and then it moved in a sideways range and as FTSE open neared, it headed higher but could not decisively cross 17850 even on a 5-minute chart for more than one candle.
The expiry blues entered in the last hour and Nifty drifted towards 17800 and then broke the level as 17800 CE would have been written aggressively.
It gave up most of the gains made during the day and closed below 17800.
The daily chart indicates a Doji as the Open and Close prices were quite close.
NIFTY WEIGHT LIFTERS & DRAGGERS
Top 5 Lifters contributed = 98
Top 5 Draggers contributed = 20
Net = +78
POSITIVES
Auto and IT leaders took the lead and held Nifty higher. The supremacy was evident as even the HDFC twins could not drag Nifty as they may have liked to do.
ICICI Bank closed above 700.
Reliance held on to the greener zone.
HDFC Bank held on to 1600 plus levels.
NEGATIVES
HDFC ended in red and is finding it hard to sustain closings above 2750.
Except for ICICI Bank, all leading banks ended in the red and that is what prevented Bank Nifty from attempting a hit to 38000.
TRADING RANGE FOR 8-10-21
Nifty 17600-650-700 is the support base. Resistance regrettably is at every nook and corner of the charts starting from 17800-820-850-900.
Bank Nifty Support = 37200-400 appears to be a good support area. Resistance 37800-38000-38200.
INSIGHTS / OBSERVATIONS
If you closely look at the OHLC numbers and intraday charts of the indices, you would realize that the moves for the day were such that they negated what happened yesterday.
The indices are just around the levels where they were on EOD 5-10-21. This means that we are still not out of the woods.
Tomorrow is the RBI policy so there may be some jerks experienced, however, in he recent times, the announcements have become a non-event.
What do you feel about this?
Thank you, and Happy Money Making!
Umesh
7-10-21
NOTE --
This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right.
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