Trade Idea of The Day - Titan Ltd Target Rs. 50 - Religare Broking Ltd
Titan Ltd
BUY 27 JAN 4140 CE SELL 27 JAN 4200 CE Titan PUT SPREAD Entry Range 20-25 Target Range 50 Stop Loss 9
Rationale
* TITAN continues to trade above its rising trendline, with prices holding above the short-term 20-DEMA, indicating that the broader uptrend remains intact.
* Recently, the price action has seen a corrective phase, during which the gap near the 4100 level has been filled. The RSI is placed around the 60 mark, reflecting underlying bullish momentum.
* In the prevailing scenario, where overall bullish momentum persists, fresh long positions are advisable only on sustained trading above 4100 mark to capitalize on a potential near-term upside rally.
* Volatility is expected to remain elevated; therefore, positions should be taken with strict risk management, as any failure to hold the rising trendline could lead to an extension of the corrective fall.
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