Accumulate Titan Company, target Rs 1025: Shitij Gandhi

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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.