Titan
TITAN DOUBLE TOP IN DAILY TIME FRAMETITAN DOULE TOP IN DAILY TIME FRAME..
TARGET FOR THIS MONTH IS 1162..
NECKLINE LONG TERM TARGET 997 BUT IT TAKES MORE MONTH TO ACHIEVE
MY RECOMMENDATION IS DO THIS TRADE IN OPTION..DON'T TRADE IN FUTURE DERIVATIVE DUE TO MORE RISK..
PREFER OCT 31 1200 PE
CLOSE THIS TRADE IF IT CLOSE ABOVE 1350 ONLY
THANK YOU!!!
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 - Potential Short SetupTitan is potentially giving a shorting opportunity at current levels for a C wave correction. If the count were to be correct then small stoploss at around 640 should work out with targets of 550 / 540.
Happy Trading!
Siraj
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