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Titan (India) Technical Analysis #46: Buy | Target Rs 1250 | Arijit Banerjee

OUR RECOMMENDATION

CMP#1138.15
IdeaBUY
Buy Range1130 – 1150
Target1250 – 1200
StopLoss*1065
Duration12 – 15 Trading Sessions
Potential Return^10 – 14%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
1138.15BUY1130 – 11501250 – 1300106530 – 40 Trading Sessions10 – 14%

# CMP on May 02, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 1194.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

Titan company, established as a joint venture between Tata Group and Tamil Nadu industrial corporation in 1984, engaged in offering Watches, Jewellery, Eyewear and other accessories in India and internationally under the brand Fastrack, Tanishq, Titan eye +, Xylys, Sonata and distributed through retail chain World of Titan, Helios and Fastrack stores. In Q3FY19 the company’s net income was improved by 18.82% to Rs.4823.49 crore.

Stock Data
NSE CodeTITAN
Sectoral IndexNifty 500
52W High1165
52W Low732.3
Face Value1
Relative Performance_Titan vs Nifty 50

TECHNICAL OBSERVATIONS (WEEKLY)

  • We are also witnessing the formation of ‘Higher Highs Higher Lows’ on a weekly scale after many months, which is a positive sign as per ‘Dow Theory’.
  • On a weekly chart, the stock has given a breakout of its rangebound move in which it had been trading more than last two years, suggest robust upside movement.
Titan Weekly Chart
Titan Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • The stock has been trading with it’s upward rising trend line since last few months and it seems that it could continue with its ongoing move.
  • ADX and +DI both above 20 indicate buying momentum and probable further rise.
Titan Daily Chart
Titan Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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