October 09, 2015
Titan (NSE Cash)
` 328.50
` 342 - 340
` 366
14 - 21 sessions
Weekly Chart
Bullish Hammer
at strong support
RSI - Smoothened
turning upside from
the deeply oversold
Source: Falcon (Chart Time:
12:00 IST)
We have seen a massive price correction in this stock from its all time high of `445.46 in last eight months.
However, considering the weekly chart, we are now seeing some signs of recovery as the stock prices
managed to find a support around the 50% and 61.8% Fibonacci retracement level of the previous large up
move. Last week’s candle can be termed as a ‘Bullish Hammer’ pattern, which has now been confirmed. In
addition, the weekly ‘RSI-Smoothened’ momentum oscillator has given a positive crossover from the extreme
oversold territory; providing a credence to the bullish scenario. Further, price-wise, this stock has confirmed a
breakout from the ‘Channel’ pattern and prices are now taking a support around the trend line as well as the
daily ’89 EMA’ level of `340. Considering these evidences, we advise traders to buy this stock from
current level to a decline up to ` 340 for a target of ` 366 in coming 14 to 21 trading sessions. The stop
loss for this trade set up can be kept at ` 328.50.
October 09, 2015
Last 5 recommendations
Recom. Buying/Selling Range
Target 1
Target 2 Stop-loss
Bharti Airtel
343 - 346
1250 - 1255
Tata Motors
293 - 291
Target Achieved
4460 - 4490
SL Triggered
Axis Bank
532 - 536
Target Achieved
Source: Angel Research
Research Team Tel: 022 - 30940000(Extn: 6552) Website: www.angelbroking.com Email: [email protected]
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