Good 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 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...
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 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...
Gave 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
NSE:TITAN was trading inside the range(box) for nearly 6 months and finally broken out with a wide range bullish candle supported by heavy volume.
Note : Before breakout the stock consolidated near resistance for around 6 days(Highlighted in yellow). Hence the stock might continue to rally for another session and then pullback. Always do not chase the price...
TITAN INDIA has broken the channel. There is W pattern formed in weekly time frame. Keep your eye on this.
This can be a good trade for Tomorrow if it breaks yellow line and sustain above 1710. Buy only when it breaks the level. If it fails, it can come to test the neckline of W pattern or channel pattern which is same (1620), then initiate fresh buying....
1) Broke out of a 6 month consolidation channel
2) Closing at the high of the day
3) Bollinger Band Expansion
4) RSI,ADX, MACD all giving buy indicators
Fresh breakout alert.
If you don't hold this beauty then wait for a retest & jump on it. In next 10 year this will be at least 5x. A must have candidate to strengthen your portfolios.
~Happy Investing
Price is bullish as it holds the Trend Line,
Targets,
T1 - 1600,
T2 - 1794,
T3 - 1900-2000,
For risky traders u can go for T3
Dont buy if the price is 1395.
Also, im just a beginner if u are an advanced trader and see any mistakes pls comment.
will update
