Moneycontrol
Last Updated : Jan 09, 2019 01:07 PM IST | Source: Moneycontrol.com

Accumulate Titan Company, target Rs 1025: Shitij Gandhi

Traders can accumulate the stock in the range of Rs 935-945 for the upside target of Rs 1025 levels and a stop loss below Rs 885, says Shitij Gandhi of SMC Global Securities.

Moneycontrol Contributor @moneycontrolcom
 
 
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Shitij Gandhi

Titan Company has taken support at its 100-days exponential moving average (EMA) on the daily charts and took a V-shaped recovery from Rs 870 levels to once again reclaim the momentum above its short-term moving averages.

From the last six weeks, the stock has been consolidating in a broader range of Rs 870-945 along with consistent buying at lower levels.

This week, we have observed a fresh breakout in prices above the key resistance level of Rs 945 along with positive divergence in secondary oscillators. Traders can accumulate the stock in the range of Rs 935-945 for the upside target of Rs 1025 levels and a stop loss below Rs 885.
Disclaimer: The author is a Senior Research Analyst, SMC Global Securities. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
First Published on Jan 9, 2019 01:07 pm
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