Trade Idea of The Day - Titan Company Ltd Target Rs.140 - Religare Broking Ltd
Titan Company Ltd
BUY 25 AUG 4800 CALL SELL 25 AUG 5000 CALL Entry Range (Outflow) 60 - 65 Target 140 Stop Loss 30
Rationale
1. On the daily chart, TITAN continued its strong upward momentum as prices are traded in a rising channel pattern with a sustained move above the rising 20-DEMA and 50-DEMA.
2. Momentum indicators remain supportive, with the RSI hovering near the 70 mark, highlighting strong bullish strength despite approaching the overbought zone. Meanwhile, the MACD remains in positive territory with a bullish crossover, confirming improving upside momentum.
3. On the technical front, the stock is witnessing higher highs and higher lows structure, suggesting that every decline is attracting fresh buying. As long as TITAN holds above the 4650-4700 support zone, the positive bias is expected to remain intact with the upside potential of 5000 zone in the near term.
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SEBI Registration number is INZ00017433
