Titanlong
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.
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
**DO FOLLOW MY ACCOUNT FOR REGULAR QUALITY SETUPS. YOU MAY ENABLE EMAIL NOTIFICATION TO NOT MISS ANY IDEAS**
**PLEASE COMMENT REGARDING THE ANALYSIS, IT'LL BE HIGHLY APPRECIATED**
**THANKS** NSE:TITAN
Titan - Price Action AnalysisExecute Long only if the RSI breaks the trend line in upside with day candle close for a target of 1526.
Execute short if the price breaks the neckline ( Strong support zone ) and manages to stay below it for a target of 1300 & 1200.
Right now the stock is in indecisive mode. Don't take any heavy positions for now. Execute only if the above conditions met for good targets.
Kindly share your valuable feedback.
Disclaimer: Please do your own analysis or consult your advisor before taking any trade. This view is for educational purposes only.
Titan LONGThe Titan stock has been showing a channel move in a down-trend. It is currently poised around it 100 day EMA and close to break out (BO) from channel trend. If the stock gives a BO then 100 day EMA will act as a strong support followed by 1398 level which would be an ideal stop loss as it has been tested multiple times before. A cross-over is seen to be given by Stoch RSI (buy indicator) and is close to macd crossover.
TGT: 1565 SL: 1398
Risk:Reward = 1:2
PS: I am rookie/beginner so please do comment your suggestion and thoughts. It would certainly help in my learning.