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Titan Share Price Analysis suggests that the Titan stock is forming a double top or M pattern. The stock also filled the gap formed in July 2019. However, the backtesting suggests that the gap doesn’t need to be filled every time. The two small gaps of the past are still not filled.
Recently, Titan Share Price Analysis on a chart shows that the stock was trading in a narrow range and was under consolidation for almost two months. It gave volume supported breakout. However, the consecutive price candles were bearish and not volume supported. Therefore, it suggests that it was a fake breakout.
The Fibonacci Retracement suggests that titan’s typical retracement level is 50%. Recently, it was trading in a no-trade zone. The Titan share price also follows the divergence trading setup. It moved up after bullish divergence and moved down post bearish divergence.
The option chain analysis is bearish for next month’s expiry. You may observe call writing at the strike price of 1200, 1220 and 1240. Titan Share Price Analysis on a chart shows that the stock is trading above the 20 period exponential moving average. Currently, the Titan share is one of the best-performing stocks in the Nifty Consumption index.
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