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Titan Technical Analysis #91: Buy | Target Rs 1325 | Arijit Banerjee

OUR RECOMMENDATION

CMP#1230.3
IdeaBUY
Buy Range1206 – 1236
Target1325 – 1365
StopLoss*1150
Duration15 – 20 Trading Sessions
Potential Return^8 – 11%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
1230.3BUY1206 – 12361325 – 1365115015 – 20 Trading Sessions8 – 11%

# CMP on Oct 09, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 1278.
^ 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 Q1FY20 the company’s net income was improved by 15.73% to Rs.5151.09 crore.

Stock Data
NSE CodeTITAN
Sectoral IndexNifty 500
52W High1345
52W Low732.3
Face Value1
Relative Performance_TITAN vs Nifty 500

TECHNICAL OBSERVATIONS (WEEKLY)

  • The weekly low 1177 also correspond with existing support line which is up since 2017 and was tested multiple times, thereby making it strong support.
  • Overall trend and the broader pattern are Bullish and the recent reactive throwback may provide a good opportunity to go long.
Titan Weekly Chart
Titan Weekly 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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