OUR RECOMMENDATION
| CMP# | 1138.15 |
| Idea | BUY |
| Buy Range | 1130 – 1150 |
| Target | 1250 – 1200 |
| StopLoss* | 1065 |
| Duration | 12 – 15 Trading Sessions |
| Potential Return^ | 10 – 14% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 1138.15 | BUY | 1130 – 1150 | 1250 – 1300 | 1065 | 30 – 40 Trading Sessions | 10 – 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 Code | TITAN |
| Sectoral Index | Nifty 500 |
| 52W High | 1165 |
| 52W Low | 732.3 |
| Face Value | 1 |
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.
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.
