STOCK HAS GIVEN A BREAKOUT OF THE PARALLEL CHANNEL IN DAILY CHART. CAN EXPECT THE STOCK TO HIT THE TARGET OF 1850. BUY ON A DIP (FOR POSITIONAL TRADE). STOP LOSS BELOW 1585.
FOR EDUCATIONAL PURPOSE.
#TITAN looks to be a eligible counter for breakout above 1625
It has been staying the box for 1400 - 1600 Box since last 5 months and for the last few days it is staying in the top of the range attempting a breakout
The volume support has been increasing in the recent past
The counter has making highers highs for while now and nearing its recent BO point
Note :...
1. Making reversal pattern.
2. Broke prv. swing high.
3. trade on resistance range between prv qrtr and current qrtr high.
4. nifty50 broke resistance and trade in life time high.
Span B span A and ichimoku Base line is showing flat momentum in 4 hr timeframe will be act as a magnet for prices short Titan in open below conversation line @1586 for the target @1557 plase stoploss above conversation line in 4 hr timeframe
If market sentiments continue to make higher high then Titan will easily touch 1700 by End of June.
and if market sentiments turn to red then it can fall.
But in both cases, it is sure that Titan will first touch to 1560 which is around -3% of Monthly open price.
1)Resistance formed is very crucial
2) All tim high
3) Stock is in a strong up trend
4) See the consolidating candles on daily time frame indicating strong bullishness in short term also
This is consolidating in very tight range from few weeks, it move with good momentum once breakout/breakdown happens or range is broken. Keep eye on watch.
The market never moves in a straight direction. It is characterized by so called zig-zag pattern. Depending on the direction of the market it can be labeled as "Trend of the market". A vast part of technical analysis is based on this trend analysis.
The market is usually classified into three different trends.
Uptrend
Downtrend
Sideway trend
1) An ...
