Titan Company Limited
Long
Updated

TITAN - High Probability Reversal Setup

453
TITAN COMPANY LTD (NSE:TITAN) - High Probability Reversal Setup

Weekly Timeframe Analysis | Potential Swing Trade Opportunity

▲ BULLISH CASE[/color]

Elliott Wave Structure:
• Appears to be completing Wave C of correction (ABC pattern)
• Wave C = 1.272 extension of Wave A at ₹2,890-2,960 zone
• Typical reversal area for such corrections

Technical Confluences:
[u]Fibonacci Support:[/u]

1.127-1.272 retracement of prior uptrend

Aligns with 2023 swing high area
[u]Volume Profile:[/u]

High volume node at ₹2,920

Declining volume on recent downmove

Pattern Recognition:
• Potential falling wedge (bullish)
• RSI(14) weekly showing bullish divergence
• MACD histogram flattening near lows

▼ RISK FACTORS[/color]
• Breakdown below ₹2,840 invalidates setup
• Broader market weakness could delay recovery
• FIIs reducing positions in consumer sector

📊 Trade Plan
  1. []Entry Zone: ₹2,890-2,960 (scale-in approach recommended)
    []Stop Loss: Daily close below ₹2,840 (absolute)
  2. Targets:

    T1: ₹3,226 (61.8% retrace)

    T2: ₹3,733 (previous high)

    T3: ₹3,834 (127% extension)
  3. Timeframe: 8-12 week hold for full targets


📌 Key Levels
[table]
[tr]
[td]Support[/td]
[td]Resistance[/td]
[/tr]
[tr]
[td]₹2,960 (immediate)[/td]
[td]₹3,100 (200 DMA)[/td]
[/tr]
[tr]
[td]₹2,890 (strong)[/td]
[td]₹3,226 (F&O OI peak)[/td]
[/tr]
[tr]
[td]₹2,840 (absolute)[/td]
[td]₹3,733 (ATH)[/td]
[/tr]
[/table]

💡 Additional Notes:
• Watch for bullish reversal candle patterns in the zone
• FII derivative data shows put writing at ₹2,900 strike
• Consumer sector showing relative strength vs Nifty

Would you take this trade? Discuss in comments!

#TITAN,#NSE,#swingtrading,#elliottwave,#technicalanalysis

Trade active
Trading near Swing Target, predicted at perfect bottom
Trade closed: target reached
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