Titan Industries: Time To Take Profits

August 7, 2013 . FundsIndia Desk

Titan Industries has been one of the out-performers in the past few weeks. In a prior post, when the stock cracked sharply,  we observed that fall could get arrested at Rs.190-192 levels and a rally could ensue. This played out and Titan Industries is now at an area of resistance. Have a look at the price action in the last couple of days, highlighted in the daily chart featured below.


The price met its minimum objective of the middle green line and the stock reversed sharply yesterday. Notice how the shifted frequency of the blue down-sloping fork also acted as a trend barrier.

We now expect Titan to slide to Rs.210-220 range which is the middle red line of the downsloping fork. This is a minimum expectation and we would not be surprised if the stock eventually slides to sub-Rs.200 levels.

The bearish view would be under threat if Titan Industries moves above the recent high of Rs.289. For traders, stop loss for short positions may be placed at Rs.295, for an initial target of Rs.215.


Get FundsIndia’s articles delivered straight to your inbox!

Enter your email address to get:

  • Mutual fund recommendations from experts
  • Buy, hold or sell calls for stocks
  • Investment tips and tricks
  • All the latest news from

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.