Nifty Update: Titan Update.

[ad_1]

Prudent Investments.

( Invest With Prudence. )

Titan
Short Term View.

Titan Ichimoku Chart.

As per the charts above

Titan has broken its support and has closed below it.

Most importantly this support has been broken after forming a Double Top.

Another important point to be noticed is , at the time of Double Top Formation, RSI has formed a Bearish Divergence, which acts as a supporting tool to BO of support.

However, i would wait for appropriate Price Action, before entering into a trade , due to the fact that in the current scenario the Risk : Reward does not match. ( Daily basis. )

Once this hindrance is passed, we may see Titan coming down to app 1150 – 1170,

( See the Two Targets Line marked in Red in pic 1 )

If someone has to take a trade in the current scenario, then one can go short even at CMP, with SL in spot above 1266 (15 M closing basis )………..Targets being the same.

The ichimoku chart suggests that this target can be achieved in a time frame of about 8 – 10 days, provided the trade is taken with correct Risk : Reward.

Note :

I am not a SEBI registered Investment Adviser and my accuracy is not guaranteed. My posts are my personal views and for information / educational purpose only.

Therefore, kindly, do your own research or consult your adviser before trading or making any investment.

I am a Trainer & Mentor, for those who wish to learn Technical Research in Capital Markets. My ambition is to make you self – sufficient, by teaching you from Basics of Technical Analysis to High Probability Trade Setups, so that you gain expertise and make money / create wealth for yourself.

[ad_2]