Titan looks weak below 2640 for the marked levels on the chart until 2730 is intact on the upside.
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Titan has closed above the resistance level and formed a new ATH.
The stock has broken the resistance level with volume confirmation and on fib levels can travel up to 2835.
On an hourly time frame the stock has formed a flag and pole formation.
Wait for the levels to be respected or broken and watch for the chart pattern to form near the predefined...
Stock has given an impulsive fall ,which suggests that there is a strong possibility of a zigzag correction. One should sell on rise near the level of 2550 keeping SL of 2610 & look for the target zone of 2250-2150 to fill the gap.
EXPLANATION : 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...
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.
Execute 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...
Sell- Below 1390
SL - 1425
Target - 1330 1250
Titan is ready for its downtrend below 1390. So, either you book exit your long if price starts trading below 1390. You can short as it is a F&O stock.
Always hedge your positions either in long or in short.
I will be bullish if stock closes above 1630 in upside. But there is very less room in upside....