Traders can accumulate the stock in the range of Rs 910-916 for the target of Rs 1,010 with a stop loss below Rs 870, says Achin Goel of Bonanza Portfolio.
Titan Company has moved above its recent consolidation pattern. On the lower end, the price has found support above 61.80% of the previous rise from Rs 752 to Rs 999.
In addition, on the weekly chart, the price has formed a ‘Hammer’ pattern which suggests growing optimism in the stock. The momentum oscillator, RSI (14) has come out from the oversold zone.
Traders can accumulate the stock in the range of Rs 910-916 for the target of Rs 1,010 with a stop loss below Rs 870.Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. 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.