- This topic has 0 replies, 1 voice, and was last updated 3 years, 8 months ago by
.
-
Posts
-
-
To watch, Please click on following link
Titan Share Price Target depends on multiple trading setup or technical analysis systems. The price action or chart analysis shows bearish outlook. Before the recent correction, the stock was trading in a bullish channel. In order to continue the bullish trend, the Titan should re-enter the channel. Co-incidentally, the bottom of the flag is short term support for the stock.
As we discussed in the price action video series that flag pattern is the continuation pattern and stock may resume downward journey, if it breaks the flag pattern. Currently, the stock is trading above 200 period EMA and this level coincides with the key support level.
On Fibonacci, the Titan share normally retraces from 61.8% retracement level. However, currently, it is trading 78.6% retracement level. Titan Share Price Target can also be decided with the help of Heiken Ashi candles and Stochastic RSI indicator.
The data points also suggest that the speculative positions are being built in the stock as the delivery % is decreasing. Titan does not have a strong co-relation with the Nifty 50. The option chain is bullish due to winding off of short positions on call side. The Nifty consumption index is under performing compared to Nifty.
-
- You must be logged in to reply to this topic.