Trade Idea of The Day - Titan Company Ltd Target Rs. 80 - Religare Broking Ltd
BUY 30 MAR 4100 CALL SELL 30 MAR 4200 CALL Titan Company Ltd Range 45 – 50 Target Range 80 Stop Loss 30
Rationale
* On the Daily chart TITAN has retest the well-defined rising trendline support near the 4,050–4,100 zone, which has historically attracted buying interest, indicating the possibility of demand emerging at lower levels
* The stock prices are trading above the long term moving average of 100-DEMA, a crucial dynamic support level. Sustaining above this zone could trigger a relief bounce and signal early signs of a bullish reversal.
* 14-Day RSI is hovering above the 40 mark, reflecting a cool down from earlier overbought levels and leaving room for momentum to rebuild on the upside.
* On the weekly timeframe MACD remains in positive trajectory, following a bullish crossover and expanding histogram, signalling potential upside momentum with a buy on dip approach.
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