As we are seeing from the last few days. The market has broken down all supports back to back. Bulls are in fear, bears are winning every match. Now, will bulls play their vital role to stop market fall?
Technical Overview of TITAN: On 9th July 2019, Titan has opened gap down and also given closing with a big red candle on day chart (1252 to 1099, -12% in a day). There is strong support around 1080 on the daily chart and the stock has taken support from the same level. In this strong bearish market, Titan didn’t break support and started to trade in a range. If we see a weekly chart below there are also neutral candles are forming on the chart. We are expecting a bounce till 1175-80 to fill its gap. We can buy Titan at current price i.e. 1090 with a small stop-loss of 1055 on closing basis. Target is 1175-1180, the risk-reward ratio is good.
Technical Overview of TITAN: On 9th July 2019, Titan has opened gap down and also given closing with a big red candle on day chart (1252 to 1099, -12% in a day). There is strong support around 1080 on the daily chart and the stock has taken support from the same level. In this strong bearish market, Titan didn’t break support and started to trade in a range. If we see a weekly chart below there are also neutral candles are forming on the chart. We are expecting a bounce till 1175-80 to fill its gap. We can buy Titan at current price i.e. 1090 with a small stop-loss of 1055 on closing basis. Target is 1175-1180, the risk-reward ratio is good.
Trade closed: stop reached