Titan, Head and shoulder pattern formation.
Hi Guys,
Titan is making a perfect head and shoulder pattern on the weekly chart which is bearish. It is the perfect time to get short(and get out if you are long). It made a bottom in November 2016 and then it never looked back. It had a good gap up opening in November 2017. Till April'18 it was making higher highs but in Aug'18 it wasn't able to cross previous high which was the sign of weakness. So if you look at the current scenario it has started to make lower lows and lower highs(basically downtrend). It can test neckline(830) again and max it can go to 900 zone(trendline resistance). Then it will start sliding again.
This is just my opinion not a financial advice.
Titan is making a perfect head and shoulder pattern on the weekly chart which is bearish. It is the perfect time to get short(and get out if you are long). It made a bottom in November 2016 and then it never looked back. It had a good gap up opening in November 2017. Till April'18 it was making higher highs but in Aug'18 it wasn't able to cross previous high which was the sign of weakness. So if you look at the current scenario it has started to make lower lows and lower highs(basically downtrend). It can test neckline(830) again and max it can go to 900 zone(trendline resistance). Then it will start sliding again.
This is just my opinion not a financial advice.
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