Titan
TITAN INTRADAY IDEA. TF:- 15 MIN. 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.
TITAN: Starting a Bearish trend
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 .
Disclaimer:
The analysis is only for illustration purposes only. Please consult your financial advisor, agent, broker before acting on any information. We may or may not have positions in the stock and our actions may be contrary to the one mentioned here. This analysis may or may not be updated. We would not be responsible for the profit/loss resulting from this analysis
titan bearish deep crab harmonic viewAs 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 we can short safely there
good luck
trade and invest at your own risk
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Titan in its Breakout move-Quant box 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 upward support of the diagonal trend line in the index chart.
So, One can get into a Derivative(Future +option) trade if it breaks and stands above 1746 on an EOD basis for the target of 1816/ 1885.
And, if it breaks down below 1678.50 once again EOD basis one can get into a short trade in the Derivative(future) for a target of 1610 /1541.
Titan Channel Consolidation (Time for Breakout?)
Notes:
- The Scrip was in a channel consolidation ever since 3rd Dec 2020 (220 point range roughly)
- It has tested the upper bounds of the channel 4 times in total
- Currently, the scrip is consolidating and testing the upper bound of the resistance zone (at around 1615-1620 ). Because of the consolidation, I'm slightly bullish since the last three times it tested resulted in a strong rejection (as shown by the shadow on the candles)
- Also the 21DMA is ready to cross over the 100DMA.
Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
ACCUMULATION WITH PRICE ACTION AND VOLUME PROFILE,1D,LONG,32% ACCUMULATION REGION:
Using Volume Profile one can identify probable accumulation or distribution regions by comparing the historical Volume at Price and current Volume at Price. Most of the times a breakout/breakdown from the region confirm accumulation or distribution.
In Titan since the rally began, current volume levels are comparable to previous volume levels when previous accumulation had happened. Current region was sideways for a considerable amount of time. So a confirmation was necessary. And it gave a breakout above the resistance line , for confirmation , ATR(14) (Average True Range) was used as a buffer.
So a confirmatory breakout has happened in 1D timeframe
ENTRY :
Entry can be taken at 1H timeframe after the probable retracement or at 10am Current Market Price
Target :
Since the current volume are comparable to the pvs rally it makes sense to assume the expected rally after current accumulation, to be of equivalent magnitude, So Fib Extension of 100% is the min Target Level. Its a provisional target level, since it is at a all-time high.
EXIT
Periodically Trailing of Stop-loss with moving average in 1D tf or when RSI Bearish Divergence is observed in 1D timeframe can be used as exit criterias.
Since the target is above all-time-high, so exiting at the target doesnt make sense. Rather better to hold the position till either the stop-loss is hit or RSI Bearish Divergence is observed.
STOP-LOSS
Stop-loss Can be Placed at the Support of Accumulation Region
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