TITAN COMPANY LTD
CMP---- 3172.30 ON 18.11.2024.
ATH—3886.95 made on 30.1.2024.
ATL---- 1.61 made in 1998.
RECENT LOW----- 720.90 MADE ON 24.3.2020.
Support:3126.10/3114.40/3106/3075/3055.65/3037.55/2950/2932/2882.45/2791/2768/2677.90/2321/2269.60/2205/2035.55/1825.05.
Resistance:3210/3239/3283.90/3329/3352/3415.10/3450/3478/3503/3518.80/3547.05/3582/3625/3658.80/3737/3776.85/3808/3838.30/3867/3886.95.
TECHNICAL VIEW:--
After hitting an all-time high of 3886.95 on 30.1.2024.it corrected and
still into deep correction mode. The technical setup and the indicators are
weak and indicates that it is likely to go down further from here but moving
down it has a very strong support point at 3075
& 3055.65 so it may bounce back from here and may resume the up-move
again but break & sustained close below these points will make the
correction much deeper. In this regard please note that as of now the technical
indicators negative divergence indicates that it could come down to 2500—2350 range or lower, provided it
breaks and sustain below 3075 & 3055.65
on the closing basis. The good range to
buy the stock in a staggered manner would be between 2550---2350 and the worst price for the stock as of now seems to be
in the range of 2350--2237, break
& sustained close below 2237 can
drag it down to much lower levels. Similarly moving down if it holds the level
of 3075 & 3055.65 on the closing basis, then one can try
buying it near 3075 with a with a stop loss of 2990.
IMPORTANT: DO NOT TRADE OR
INVEST WITHOUT STOP LOSS.
NOTE: - It is a technical assessment of the stock as of now, the
technical interpretation changes with the price movement and time, therefore it
has to be reviewed at regular intervals, furthermore investors are advised to look into
fundamental, financial details of the company because that too keeps on
changing and last but not the least management perception for the future of the
company before taking investment decision.
Disclaimer:-The view expressed here are solely of the
author and he is not at all responsible in any way for the outcome of the trade
you enter based on the above view.
Kindly note that make your cost your stop loss
in favorable trade and then trail it as the price move up/down
to gain maximum profit and avoid losses. Use support and resistance levels as
entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT
STOP LOSS.
Note: Price stated
here are of spot market.
Contact me for strategic guidance to enter and
exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
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Thank you for sharing your views.