MENU

Published on 11/07/2018 4:46:13 PM | Source: Choice Broking Pvt Ltd

Sell Titan Company Ltd For Target Rs.755.00 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #Titan Industries Ltd #Watches Sector #Trading Report #Choice Broking

*  On a daily chart, the stock has been trading in a Broadening Falling Wedge Formation since last many days where it has recently faced a strong resistance of its upper band of the formation which indicates a southward move in the counter.

*  Moreover, the stock has failed to sustain above its 200 Days Moving average which was placed at 835 level which shows a weak move in the counter for the time being.

*  On an hourly chart, the stock has given a breakdown of its lower leg of Downward Falling Channel formation which suggests a further downside movement in the counter.

*  A daily momentum indicator MACD is reading with a negative crossover and below its zero line which points out for a weakness in the counter.

*  Based on the above technical structure, we are expecting a downside movement in the counter in few trading sessions.

Recommendation

Sell Titan Company Ltd @ 811.25-815.30 Stoploss 838 Target 755

To Read Complete Report & Disclaimer Click Here

For More choiceindia Disclaimer http://www.choiceindia.com/disclaimer.aspx 

Above views are of the author and not of the website kindly read disclaimer