A Doji appeared after a significant rally indicates a temporary pause. Considering RSI and other Oscillators/Moving Averages, trend reversal can be expected. High valuations are fully justified for Titan Industries business that has perhaps the best top line growth visibility in the large cap FMCG/Retail space in jewellery business, the largest segment of this company, in the next five years. I’d recommend a buy on its counter as per the trade plan, but with a short-term target.
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Stock Ticker – NSE: TITAN – Titan Company Ltd. – CONSUMER GOODS
Bullish Trade plan:
Entry Level 1251.35 Target 1276.35 Stoploss 1226.35
Analyst Rating – :5/5
View Posted on 2019-05-23
Hi Lakshminarayana Sir, The appearance of DOJI along with High volume indicates trend reversal. If that’s the case then we are supposed to take short position sir.
Yes Mr.Mohan, you are right. I forgot to add the reversal trade plan.