Technical Pick-Titan Company Ltd


Technical Pick-Titan Company Ltd

Titan is finding support at 800 and resistance around 850. On Daily chart, Titan is giving range breakout,looks bullish above 850 level.  

After profit booking the stock was consolidating for the past few months and now has given breakout after which the short term trend is expected to turn bullish.

Daily 14 period RSI has turned up from near levels. As per the bullish high low theory of 40-70 levels, the daily RSI is expected to move up to 70- 75 levels from the current reading of 61. This could mean Continuation of upside momentum in the stock price ahead possibly a breakout also this time.

14 Period Exponential average is also indicating the positive momentum in the stock as it has comfortably crossed the average with closing.

Traders don’t go for aggressive or positional selling at all because trend looks positive and we expect rally to remain continue till 940---970 and then to 1005+++mark in coming weeks. 

For positional trade, stop loss seeing below 800 on closing basis which in unlikely to breach in near terms. 

Trading Recommendation (13th March 2018)

Buy Titan future around 850--840 and for the initial upside target till 940---970 and then to 1005+++mark with stop loss below 800 on closing basis.



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