TITAN trade ideas
Titan, channel breackout and patience.you can learn from others' experiences is the key in the stock market.
TITAN BULLISH RECTANGLE PATTERNTitan forms a bullish rectangle pattern with strong breakout. The target has been given based on the size of the rectangle formed. Target expectation is around 1786
market in a rangeany side of breakout can give good move once our view is clear. for this type of market condition we can do mean reverting strategy with small risk and good reward
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.
Titan breakout with good volume After a long consolidation titan broke the resistance
Wait for it to retest near 1620 to 1630 for the entry
Target: 1780/1800/1820 (consolidation depth is 170 to 180 points) => 1630 + 170 = 1800
Stop loss: 1550 (below the pullback from the resistance)
Uptrend - Sideways - Downtrend ?After a very sharp uptrend movement, stock is consolidating sideways for a long time and now rejected candle at major resistance.
Traditionally, all the indicators are indicating that after a uptrend followed by sideways trend there is a downtrend with lower highs.
If the major resistance is break with high volumes we can see further upside movement.
If the major support is break with high volumes we can see further downside movement.
DO IT YOURSELF!Just For Fun!
Comment your analysis on the given chart of TITAN.
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Breakout in TitanGood to go long in Titan as it breaks resistance of parallel channel after many days . Conservative traders can wait for retest and take position .
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
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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Titan from 03 jun 2021 Stock has given breakout ... ---> keep in watchlist
Can be traded using opening range breakout on 15M / 30M chart
use basic pivot .
def buy if stock comes back to retest --> make sure to place a buy order around @1630
Titan- Poll And Flag BreakoutTargets For Titan After Breaking the ATH. Levels mentioned in the chart.
Titan - All time high Breakout - June seriesTitan is testing its All time high for another time at 1610 levels.
If it manages to break the resistance, Execute long after the retracement happen near the Resistance level as mentioned in the chart for a minimum target of 50 points.
If it fails to break and started to fall, execute Short at 1580 levels after the retracement (for confirmation) for a target of 100 points.
As Nifty is also testing its All time Highs on daily basis, we may see a small correction as many stocks are in overbought zone. That may pull Titan also downward. Wait for the breakout on either side and take your trade accordingly.
Please share your valuable thoughts.
Disclaimer: Please do your own analysis or consult your advisor before taking any trade. This view is for educational purposes only.
Titan LongGave a massive breakout. It is not wise to jump into the trade right away since SL will be huge.
Traders with FOMO can add 30% of their usual allocation at this level and add more if there is retest of the previous resistance zone.
Tgram: Stocks 101
