titan is going to test its resistance for the fourth time. and is having two daily closes above 38% fibonacci extension of last pullback. if it goes good this time targets will be around 929.
Titan has formed a flag pattern, can move in either direction once it moves out of this pattern.
Short below 1140, for targets of 1068 - 1039.
If it reverses from lower range of channel, buy above 1190 for a target of 1235.
Option Open interest shows massive buildup in strike 1200 Calls and 100 Puts, a strangle can be sold at these very strikes.
This will...
After making a Gap Down opening of around 100 points the stock is trading sideways. Nearest support for TITAN is at 1130 which will break in upcomming sessions and then it may fall till the level of 1024 was act as good support for stock in recent past and had bounce back to the 1390 from same support in last month.
So the 1130 is the nearest...
Reasons For Trade- 1.Price has Broken 4 Hour channel
2. Price is Retesting the important resistance of 1075 wich was support earlier
3.Daily Trend is Down
4.Risk Reward 1:2
Sell at 1070-1075 Stoploss 1093
Target 1010
(Intraday- Sell at 1070 Stoploss 1093 Target 1030)
Titan pierces through an important support level, which is what could be a trend defining one. Price range offers support through a Rising Trendline, 100 SMA and price support of 1150. The fall is largely triggered by the news of a slow down acknowledged by the management.
However, the suggestion would not be to short sell right away but to wait for today's...
