Titan company has bounced from its support level of 1400 and it's 100 day Moving average. With a stop loss of 2.5% and target above 8.2% gives a risk reward ratio of 3.27. 2 confirming candle made - can buy on 25 Feb opening market.
As per previous learnings, we can see in the chart that price made fake H&S Pattern and after some consolidation made higher low and now again reached at a crucial level.
So as per basic price action if it breaks the basic level of 1395 with high selling volume then after some retesting it can go down to 1300 followed by 1260.
IF It does not succeed to...
This post is an update to the previous entry setup posted a while back, the price is behaving as expected and is a good time to deploy the other 50% capital to average out the previous position if taken. Else wait for the wedge pattern to break and retest and take full 100% entry with one lot.
Titan fundamentals also look strong as they are opening...
Please see the levels marked in the chart as it is there for a swing trade or long term positional trade. Please take an entry only after the channel pattern is broken + retested on nearest resistance zone.
Thanks, feel free to comment on any doubts if you have.
🅾Titan || Head and Shoulder : Swing🅾
If the stock consolidates near 1400 and then crosses down, the head and shoulders pattern will become active.
Ⓢⓟⓔⓒⓘⓐⓛ ⓝⓞⓣⓔ :
There is no setup in the stock market that is 100%, here the idea can be found only by analysis. Here I have tried to present to you what I can see from my point of view only by analysis.
HEAD AND SHOULDER PATTERN MADE BUT BREAKDOWN NOT DONE SO THERE IS TWO VIEW.
Bullish view - titan can long above 1520 with the sl of 1500 for the target of 1560-1580
Bearish view = Titan can short around the level of 1490 with the sl of 1512 for the tgt of 1460-1420.
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TITAN STOCKS POSSBLE GO UP SIDE ONCE CLOSE 1550 ON WEEKCHART THE MARKET GOES UP TO 1700 2000 2300
ONCE BREAQK 1350 TO 1380 CLOSE THE WEEK CHART THE MARKET FALL 1300 1100 900
BUT FIBANCI LEVEL BUY POSSOBLE GO 1.618