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Technical Observations

* The share price of Titan Ind. resumed up trend after resting the two months consolidation breakout at 1790, highlighting robust price structure that augurs well for next leg of up move

* Key point to highlight since July 2020 is that, the stock has managed to hold the key support of 50 day EMA, highlighting elevated buying demand. In the current scenario as well, stock staged a strong bounce from 50 days EMA

* We expect the stock to maintain positive bias and head towards | 1950 in the coming weeks as it is the confluence of the price parity of end of July 2021 rally (| 1662- 1855) projected from August low of | 1763

* Immediate support is place at | 1695 levels as it is the confluence of the 50 days EMA and the 80% retracement of recent up move (1662-1855)

* Among the oscillators MACD has generated a bullish crossover while sustaining zero line, indicating positive bias

Buy Titan Company Ltd @ 1805.00-1826.00 TGT 1950 SL 1695

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